( December 13, 2023, 03:00 GMT | Official Statement) -- MLex Summary: DB Metal, Simpac, Dongil Industries, and Taekyung Industrial have been fined a total of 30.5 billion won (about $23.2 million) and issued corrective orders by the Korea Fair Trade Commission for colluding on bid prices and trading volumes in manganese-alloy iron bids. According to a statement from the regulator, the collusion occurred during purchase bids by 10 domestic steelmakers from 2009 to 2019. The companies, which are the sole manufacturers of manganese-alloy iron in South Korea, engaged in this practice to prevent price drops and ensure a stable supply.The statement, in Korean, is attached....
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