S. Korea Fines Samsung, Others $50M For Price-Fixing

Law360, New York (February 15, 2011, 3:50 PM EST) -- South Korea's antitrust enforcer said Tuesday it had fined Samsung Electronics Co. and a dozen other electric wire makers 56.5 billion won ($50.3 million) for price-fixing, and referred cases against seven companies to prosecutors.

From 2003 to 2006, wire manufacturers agreed to a set series of price hikes for their products, the Korean Fair Trade Commission said. The watchdog also turned up a number of bid-rigging schemes for projects in the private and public sectors during its five-year investigation into the electric wire industry, it said....
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