( January 5, 2016, 05:16 GMT | Official Statement) -- MLex Summary: The Korea Fair Trade Commission has imposed combined fines of 199.4 billion won ($168 million) on Ssangyong Cement Industrial Co, Tongyang Cement, Sungshin Cement, Hanil Cement, Hyundai Cement and Asia Cement for allegedly fixing market shares and product prices. Ssangyong and Hanil were handed additional combined penalties of 165 million won for allegedly hampering the investigation by hiding relevant data. The companies allegedly pre-arranged market shares in February 2011, and if one company exceeded the agreed market share, it had to purchase products from a company that did not reach its sales target at an inflated price. The companies were also accused of fixing the prices of their products in March 2011 and December 2011. The regulator's statement, in Korean, is attached....
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