South Korean pallet makers fined combined $8 million for bid rigging
( May 7, 2026, 03:01 GMT | Official Statement) -- MLex Summary: South Korean pallet makers have been fined by the country’s competition regulator a combined 11.7 billion won ($8 million) for rigging bids and colluding on separate occasions to allocate supplies and share profits. The Korea Fair Trade Commission said Thursday that the collusion took place on a nationwide scale and involved sales worth around 362.9 billion won. The 18 pallet companies, including Goldline, Korea Plastic and NPC, colluded from 2017 to 2024 in procurement bids commissioned by 23 buyers, including major petrochemical companies such as Lotte Chemical, S-Oil and GS Caltex. The companies agreed in advance on winning bidders and designated cover bidders and coordinated bidding prices.Statement is attached (in Korean)....
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