( May 20, 2026, 05:42 GMT | Official Statement) -- MLex Summary: Seven flour millers in South Korea were collectively fined a record 671 billion won ($444.2 million) for colluding on prices and supply volumes in sales to food manufacturers and other business customers. The Korea Fair Trade Commission said Wednesday the companies, including Daehan Flour Mills, Sajo Dongaone and CJ CheilJedang, coordinated 24 agreements from November 2019 to October 2025, covering customers such as Nongshim, Paldo and Pulmuone. The regulator said the cartel continued even after the companies were sanctioned for collusion in 2006 and while they received government subsidies meant to stabilize flour prices during rising global wheat costs. It also ordered corrective measures, including independent price recalculations, and said the companies and 14 executives had already been referred to prosecutors.Statement is attached (in Korean)....
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