S. Korea Fines Samsung, LG $39M For Fixing Prices

Law360, New York (January 13, 2012, 12:42 PM EST) -- South Korea's antitrust watchdog fined Samsung Electronics Co. Ltd. and LG Electronics Inc. nearly 45 billion won ($39 million) on Thursday for conspiring to raise prices on their washing machines, flat-panel televisions and laptop computers.

The Korean Fair Trade Commission concluded that the two electronics giants agreed to hike their rates for the three types of consumer goods around the time of the financial crisis, mainly from mid-2008 to 2009.

In total, the KFTC decided to fine the two companies 44.647 billion won. The regulator did...
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