S. Korea Investigates Oil Producers For Collusion

Law360, New York (August 7, 2007, 12:00 AM EDT) -- The Korean Fair Trade Commission has once again taken aim at South Korea's oil companies, investigating claims of price-fixing in the light oil market.

Regulators have launched a probe into SK Energy Co., GS Caltex Corp., S-Oil Corp. and Hyundai Oilbank Corp., the Korea Economic Daily reported on Monday.

The FTC alleges that the companies conspired to set prices for gasoline and diesel, agreeing to charge higher prices on the resort island of Jeju. Regulators claim that the scheme garnered the companies an additional 30 billion...
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