KFTC fines 26 manufacturers for cartelisation

KFTC fines 26 manufacturers for cartelisation
16 April 2018


The Korea Fair Trade Commission (KFTC) has announced that it levied KRW15.37bn (US$14.64m) of fines on 26 cement manufacturers for cartelisation activities, according to Korea JoongAng Daily.

The KFTC stated that the manufacturers had colluded to set the prices of ready-mix concrete provided to smaller construction firms between 2009-16. As a result, the prices of the construction material have been on the rise, according to the watchdog.

The KFTC has referred the 26 companies to state prosecutors for further investigation.

Published under Cement News