Prosecutors Conduct Search and Seizure on CJ CheilJedang and Daesang Over Starch Sugar Collusion Allegations
Prosecutors in South Korea have launched a forced investigation into four domestic food companies, including CJ CheilJedang and Daesang, over allegations of price collusion in the starch sugar market.
‘Price Conspiracy’ Sugar Manufacturers Hit with 400 Billion Won Fine, Pledge to Prevent Recurrence
Three sugar manufacturers in South Korea have issued formal apologies and pledged to implement measures to prevent similar price-fixing incidents following a hefty fine imposed by the Fair Trade Commission.
Korea Fair Trade Commission Imposes 408.3 Billion Won Fine on Three Sugar Companies for Price Collusion
The Korea Fair Trade Commission has imposed a fine of 408.3 billion won on three sugar companies for colluding on sugar prices over a four-year period.
Food industry caught in 'collusion'... Prices of sugar and flour drastically reduced
In response to collusion allegations regarding sugar and flour pricing, major companies are reducing their product prices, with a notable average decrease of 5% to 6% on certain items by CJ CheilJedang and others.