The Fair Trade Investigation Division of the Seoul Central District Prosecutors’ Office, headed by Na Hee-seok, requested bench warrants on the 14th for eight current and former executives from domestic petrochemical companies over alleged violations of the Fair Trade Act. The suspects include Kim Yu Sin, CEO of OCI, and Jang Young-su, former CEO of PKC, while executives from LG Chem, Lotte Fine Chemical and Aekyung Chemical were also reportedly included. Prosecutors suspect companies including OCI, PKC, LG Chem, Hanwha Solutions, Aekyung Chemical, Lotte Fine Chemical and Unid coordinated price increases for eight petrochemical products, including PVC, plasticizers, caustic soda and hydrochloric acid, over several years. Investigators believe the companies exploited supply disruptions involving naphtha and other raw materials during the Middle East war instead of competing on prices, generating more than 15 trillion won in unfair profits. Prosecutors searched the seven companies on August 5 and questioned Kim and Jang on September 10. The case follows separate investigations into alleged price fixing involving oil products worth 14.2 trillion won, flour worth 6 trillion won and sugar worth 3.2 trillion won.