KFTC Fines Drink Makers $20M Over Price-Fixing

Law360, New York (August 17, 2009, 7:05 PM EDT) -- South Korea's competition regulator has reportedly hit three local soft drink companies with a total of 25.5 billion won ($20.3 million) in fines for alleged price-fixing.

The country's Fair Trade Commission has accused Lotte Chilsung Beverage Co., Haitai Beverage Co. and Woongjin Foods Co. of colluding to fix product prices since February 2008, Dow Jones reported Sunday.

The KFTC also plans to bring criminal charges against the chief executives of Lotte Chilsung and Haitai Beverage, according to Dow Jones.

The two CEOs allegedly made phone calls...
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