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Korea Fair Trade Commission fines two oil extraction companies for bid rigging

( December 9, 2014, 03:06 GMT | Official Statement) -- MLex Summary: The Korea Fair Trade Commission issued correction orders and fined two companies 94 million won ($84,300) for bid rigging, the KFTC said on its website. At an open corporate bidding for an SK crude oil seafloor pipeline extraction contract at the port of Ulsan in January 2009, Tae-dong Development offered to compensate Shin-shin Development if they helped to raise the bid for the contract, the KFTC said....

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