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South Korea: Ramen-makers hit with price-fixing claims

 |  July 29, 2013

A federal class action initiated by a Koreatown market accuses four companies in South Korea of fixing ramen prices for more than 10 years. The Plaza Company launched the lawsuit against the companies, along with their US subsidiaries, on claims the parties fixed prices of instant noodle products on six occasions between 2001 and 2008. The four South Korean companies named are Nong Shim, Ottogi, Samyang Foods, and Korea Yakult. Korea’s Fair Trade Commission fined the companies a combined $120 million following an investigation into the case and finding evidence of the price-fixing cartel.

Full Content: Courthouse News Service

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