Cement News tagged under: Fair Trade Commission

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KFTC fines 26 manufacturers for cartelisation

16 April 2018, Published under Cement News

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 p...