Korean Firms Fined for Price Fixing

Korea’s Fair Trade Commission (FTC) has fined eight companies a combined won12.7 billion ($12 million) for conspiring to fix prices of six petrochemical products including ethylene glycol, styrene, toluene, and xylenes. The companies include GS Caltex, Honam Petrochemical, Samsung Total Petrochemicals, and SK Energy, FTC says. The price-fixing cartel started operating in 2000, FTC adds. FTC has also fined six companies since December 2007 for fixing prices of...

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