Two of South Korea’s leading security and safety providers have been issued fines after antitrust officials found evidence the companies colluded for years to harm competition in the industry.
According to reports, the nation’s Fair Trade Commission issued fines totaling $4.7 million to the two companies, S1 Corp and ADT CAPS. S1 Corp is an affiliate of Samsung Group, according to reports.
The companies were both fined equally after the FTC found the companies shared equipment in certain regions in which they agreed not to compete against each other. The equipment-sharing took place between 2000 and 2002, the FTC said, while the non-compete agreements lasted more than a decade.
Officials said that through the conspiracy, the companies gained 95-100 percent of the market share in those certain regions.
Full content: Korea Herald
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Public Interest Groups Push for Rehearing on FCC Net Neutrality Case
Feb 18, 2025 by
CPI
Australian Regulator Backs Virgin Australia-Qatar Airways Alliance
Feb 18, 2025 by
CPI
EU Scales Back AI Regulations to Compete with US in Global Tech Race
Feb 18, 2025 by
CPI
Democratic Lawmakers Raise Concerns Over Musk’s Task Force and Taxpayer Data Security
Feb 18, 2025 by
CPI
UK’s CMA Provisionally Approves Poultry Feed Merger
Feb 18, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – International Criminal Enforcement
Jan 23, 2025 by
CPI
The Antitrust Division’s Recent Work to Combat International Cartels
Jan 23, 2025 by
Emma Burnham & Benjamin Christenson
Information Sharing: The New Frontier of U.S. Antitrust Enforcement
Jan 23, 2025 by
Brian P. Quinn, Casey Kovarik & Michael Tubach
The Key Role of Guidelines on Exchanges of Information Among Competitors and the Divergent Transatlantic Paths
Jan 23, 2025 by
Rosa Abrantes-Metz & Albert Metz
Leniency, Whistleblowers, and Compliance
Jan 23, 2025 by
Richard Powers, Tara O’Malley & Cory Gordon