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South Korea’s Antitrust Agency Raids Petrochemical Firms in Price-Fixing Probe

By  |  May 14, 2026
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South Korea’s competition regulator has begun on-site inspections at four of the country’s leading petrochemical companies as part of an investigation into suspected price-fixing, according to The Korea Times.

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    Authorities from the Fair Trade Commission on Thursday dispatched investigators to LG Chem, Hanwha Solutions, Aekyung Group, and OCI to collect documents and other materials related to the case, according to The Korea Times. Sources familiar with the matter said the inspections are expected to continue through Friday.

    The inquiry centers on allegations that the companies coordinated pricing for polyvinyl chloride, commonly known as PVC, as well as plasticizers, chemical compounds used in the manufacturing process of PVC products. Per The Korea Times, both LG Chem and Hanwha Solutions are suppliers of PVC, while all four companies are involved in producing plasticizers.

    The investigation comes at a time when the South Korean government is intensifying efforts to contain inflationary pressures and monitor industries for potential unfair business practices. According to The Korea Times, officials have become increasingly sensitive to market disruptions and pricing concerns following supply chain instability linked to the ongoing crisis in the Middle East.

    An official at the Fair Trade Commission declined to comment on the case, saying the agency does not disclose details involving individual investigations.

    Source: The Korea Times