South Korea's KFTC investigates five seasoning makers over suspected collusion

  • KFTC launched a two-day collusion investigation into five major condiment manufacturers.
  • Three food-sector cases this year resulted in fines totaling 1.8279 trillion won.
  • Samyang Corporation received full leniency in a separate starch syrup cartel case.

South Korea's Korea Fair Trade Commission (KFTC) has launched a two-day on-site investigation into CJ CheilJedang, Daesang, Sempio, Pulmuone and Sajo Daelim over suspected price collusion in gochujang, doenjang and soy sauce. Investigators from the KFTC's International Cartel Investigation Division are examining pricing processes and trading terms for major condiment products. The probe follows fines this year totaling 408.3 billion won ($297.7 million) for three sugar manufacturers, 671 billion won ($489.2 million) for seven flour producers and 747.6 billion won ($545 million) for four starch and starch syrup manufacturers. The KFTC previously found CJ CheilJedang and Daesang coordinated gochujang promotional discounts in 2011, resulting in corrective orders, combined fines of 1.052 billion won and referrals of the companies and relevant executives for prosecution. The investigation also comes as scrutiny grows over the KFTC's leniency program, including a proposal to reduce the maximum fine exemption for companies reporting cartel conduct after an investigation begins.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.