Korean Antitrust Regulator Probes 4 Oil Refining Cos.

Law360, New York (January 20, 2011, 8:02 PM EST) -- South Korea’s antitrust watchdog reportedly has opened an investigation into whether GS Caltex and three other oil refineries have engaged in a scheme to rig petroleum prices.

Amid concerns over rising fuel prices, the Korea Fair Trade Commission this week initiated on-site investigations of GS Caltex, SK Energy, Hyundai Oil Bank and S-Oil to review whether the companies made secret deals promising gas stations lower petroleum prices, The Korea Herald reported.

The agency is also looking into whether the companies took part in other anti-competitive activities,...
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