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Korea Fines Firms for Fixing PP and HDPE Prices

1:08 PM MDT | August 6, 2007 | Chemical Week Editorial Staff

Korea’s Fair Trade Commission (FTC; Seoul) has fined nine Korean companies a combined won105.1 billion ($112 million) for conspiring to fix prices of polypropylene (PP) and high-density polyethylene (HDPE) between 1994 and 2005. The companies include Daelim Industrial, Hyosung, Korea Petrochemical Industry Co. (KPIC), LG Chem, and SK Corp. Honam Petrochemical participated in the price-fixing cartel but was not fined because it helped FTC with its investigation, FTC says. SK received the biggest fine (won23.8 billion) followed by KPIC (won21.2 billion) and...

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