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South Korea: Antitrust fines hit record high for nation

By  |  October 7, 2013

South Korea’s Fair Trade announced fines issued for price-fixing violations reached a record high for the nation in 2012, according to reports.

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    Outlined in a report to the National Assembly, the FTC recorded $855 million worth of price-fixing fines in 2012, nearly three times the amount for 2011.

    Among the largest fines issued were to instant noodle and construction companies, the regulator said. More recently, the FTC launched price-fixing sanctions against truck manufacturers.

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