South Korea: The Korea Fair Trade Commission (KFTC) imposed ‘corrective measures’ and US$1.55m in fines on Dongyang Ready-Mixed Concrete, Goryeo Ready-Mixed Concrete, Gwanghyeon Ready-Mixed Concrete, Jeon-guk Industry, Jungwon Industry, KW and Seoheung Industry. The highest individual fine for a company was US$297,000. ChosunBiz News has reported that the producers had agreed to collectively raise prices between May 2021 and September 2023. The KFTC found that they allocated sales volumes and shares customer operations among themselves and threatened to halt operations if customers declined to buy at the colluded price.
Ready-mix concrete producers in Gwangyang fined for price collusion
