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South Korean mini-mills fined again for price-fixing

ABSTRACT

For the second time in just 20 months, leading South Korean steelmakers including Hyundai Steel and Dongkuk Steel Mill have been hit with massive fines for price-fixing, this time for colluding to agree their bid prices for rebars for central and local government supply contracts.
On Thursday, Korea's Fair Trade Commission (KFTC) announced that it was imposing fines totalling Won 256.5 billion ($197.5 million) on Hyundai, Dongkuk and nine others for fixing their quotations between 2012 and 2018 on rebar contracts awarded by the state procurement agency, the Public Procurement Service, Korea's Yonhap newsagency reported.   The

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