South Korea Considers Cartel Fine Reductions

Law360, New York (January 16, 2007, 12:00 AM EST) -- With South Korea facing an economic downturn, its antitrust regulator may reduce the amount of fines companies have to pay for price fixing and other illegal activities.

“While tightening our grip on irregularities, we will give some thought to alleviating fines on companies, considering the difficult economic conditions,” KFTC Chairman Kwon Oh-seung said Tuesday in an interview with Yonhap News Agency.

“The burden (of fines) may eventually end up in the hands of consumers,” he added.

Kwon continued that he would discuss the matter with business...
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