Collusion Again and Again... Fines Approaching 2.5 Trillion Won Through August

[Economy 365]

It has been revealed that a significant number of businesses have repeatedly been involved in separate collusion cases despite previously facing sanctions from the Fair Trade Commission.

From 2020 through August of this year, a total of 65 businesses were included in three or more different collusion cases.

Hanssem recorded the highest number with 20 cases, followed by Hyundai Livart and Dongbang with 18 cases each, and Enex with 16 cases.

The scale of fines for collusion has also surged significantly.

While last year's total annual fines amounted to 263.6 billion won, the figure for this year reached 2.4576 trillion won through August alone, already exceeding nine times the total from last year.

This is analyzed to be the result of successive sanctions against large-scale collusion cases this year.

The Fair Trade Commission is pursuing institutional improvements to adjust the level of voluntary reporting reductions for businesses that repeatedly engage in collusion.

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