Antitrust Antitrust

Six South Korean transport companies fined for bid rigging on orders from Hyosung

By Wooyoung Lee
  • 01 Jan 2023 03:00
  • 30 Dec 2022 05:23
Six South Korean transport companies have been hit with a combined fine of 1.3 billion won ($1.1 million) by the country’s competition regulator for rigging bids for transport orders from Hyosung Heavy Industries for a decade.

The Korea Fair Trade Commission, or KFTC, imposed the fine with corrective orders based on its findings

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Wooyoung Lee

Correspondent, Seoul

Wooyoung Lee is a correspondent based in MLex’s Seoul office, South Korea, covering antitrust, privacy and data security, mergers and acquisitions and financial services. Wooyoung has more than a decade of experience in journalism, public policy and research. She has worked and written for news outlets including The Korea Herald, Al Jazeera International, Bloomberg BNA, Monocle, among others.

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