Seoul/Taipei, Jan. 18 (CNA) Four Taiwan-based firms were among 23 shipping companies fined a combined 96.2 billion Korean won (US$80.84 million) by the South Korean Fair Trade Commission (FTC) Tuesday over a 15-year price-fixing scheme.
South Korea’s antitrust watchdog yesterday fined 23 domestic and foreign shippers a combined 96.2 billion won (US$80.84 million) for price-fixing, including three Taiwanese container shippers Evergreen Marine Corp (長榮海運), Yang Ming Marine Transport Corp (陽明海運) and Wan Hai Lines Ltd (萬海航運) the Central News Agency and Japan’s Nikkei Asia reported.
Korea Marine Transport Co and Sinokor Merchant Marine Co instigated the collusion by raising freight rates for routes between South Korea and Southeast Asia, China and Japan, and they were later joined by other foreign and domestic firms, the Korea Fair Trade Commission said, citing the results of an
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