South Korea Fines Light Oil Producers $5M

Law360, New York (February 22, 2007, 12:00 AM EST) -- The antitrust regulator of South Korea fined the country’s top four domestic refiners this week, alleging they colluded to fix the prices of light oil products in 2004.

SK Corp., GS Caltex Corp., S-Oil Corp. and Hyundai Oilbank Corp. allegedly fixed the prices of light oil products including diesel, gasoline and kerosene between April 1 and June 10, 2004, Dow Jones reported the South Korea Fair Trade Commission said Thursday.

The companies, which account for more than 90% of the South Korean market for light oil...
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