Korea To Levy More Chemical Price-Fixing Fines

Law360 (December 14, 2007, 12:00 AM EST) -- South Korea's Fair Trade Commission will reportedly hit a handful of major petrochemical companies with millions more in price-fixing fines.

The probe has centered on an alleged scheme among seven or eight companies to set prices for low density polyethylene and linear low density polyethylene as well as other chemicals, the Korea Times reported. The commission expects to levy the new fines against the companies next week, the Korea Times reported.

The fines come on the heels of the agency's February imposition of ₩105.1 billion, or...
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