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Nongshim, Samyang Foods, Ottogi and Korea Yakult fined for fixing instant noodle prices

By  |  March 22, 2012

The Korean Fair Trade Commission has fined Nongshim, Samyang Foods, Ottogi and Korea Yakult for fixing the prices of instant noodles from 2001 to 2010. The companies fined have a combined market share of almost 100 percent; Nongshim holds about 70 percent of the market and was fined the most heavily, with a penalty of 107.8 billion won. The KFTC found that the companies engaged in collusion and exchanged information.

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