4 makers of sewage pipes fined 2.95 bln won over price fixing
SEOUL, March 8 (Yonhap) -- South Korea's antitrust regulator said Monday it has decided to fine four manufacturers of sewage pipes and manhole covers a combined 2.95 billion won (US$2.6 million) for colluding to fix prices of industrial products.
Kolon Industries Inc. and its three smaller rivals colluded to fix their quotations between 2011 and 2016 for 268 rounds of purchase bidding for waste pipes and manhole covers by the state procurement agency and builders, according to the Korea Fair Trade Commission (KTFC).
The deals were worth about 65 billion won, it added.
The KFTC also ordered them to take corrective measures.
This image, provided by Yonhap News TV, shows the exterior of the Korea Fair Trade Commission in the central administrative city of Sejong. (Yonhap)
sooyeon@yna.co.kr
(END)
-
BTS fails to win Grammy for 3rd consecutive year -
(LEAD) 1st S. Korean state compensation ordered for victim of Vietnam War mass killings -
Jay Park's Won Soju to be sold in U.S. -
(2nd LD) Search under way for 9 missing after fishing boat capsizes -
(LEAD) Ahn calls off campaigning activities amid row with Yoon's office
-
Injured Wolves forward Hwang Hee-chan to undergo treatment in S. Korea -
Ex-gov't employee summarily indicted for alleged attempt to sell Jungkook's lost hat -
S. Korea opens metaverse platform for Korean-language learning -
Pirates' Choi Ji-man says 'deeply hurt' to be dropped from WBC team -
Singer Lee Seung-gi to marry actor Lee Da-in in April
