The Fair Trade Commission (FTC) has launched on-site investigations into major domestic sauce and paste manufacturers, including companies selling soy sauce, soybean paste, and red pepper paste.

According to the industry on today (the 1st), the FTC is securing relevant materials from five companies—CJ CheilJedang, Daesang, Sempio, Pulmuone, and Sajo Daerim—to look into suspicions of price fixing on sauces and pastes.

The FTC suspects that these companies engaged in illicit collusive practices, such as price fixing, during the supply of sauces and pastes.

The FTC has been tightening the reins on price fixing related to food and other items in a bid to stabilize livelihood prices.

In February of this year, the FTC imposed a fine of 408.313 billion won on three companies—CJ CheilJedang, Samyang Corporation, and Daehan Sugar—on charges of colluding on sugar prices over a period of about four years.

In May, penalties totaling 671.045 billion won were imposed on seven flour manufacturing and sales businesses—Daehan Flour Mills, CJ CheilJedang, Sajo DongA One, Samyang Corporation, Daesun Flour Mills, Samhwa Flour Mills, and Hantop—for collusive practices.

Following sugar and flour, CJ CheilJedang is once again under FTC investigation over suspected collusion.

(Photo provided by the Fair Trade Commission, Yonhap News)