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Doosan Heavy wins Honam Expressway bid-rigging appeal

( July 10, 2017, 08:46 GMT | Insight) -- The Seoul High Court has ruled in favor of Doosan Heavy Industries & Construction in an appeal suit against the Korea Fair Trade Commission over a case involving bid rigging on a Honam Expressway project, Seoul Economy reports.The Seoul High Court has ruled in favor of Doosan Heavy Industries & Construction in an appeal suit against the Korea Fair Trade Commission over a case involving bid rigging on a Honam Expressway project, Seoul Economy reports. In July 2014, the commission fined 28 construction companies a combined 435.5 billion won ($379 million) for colluding on the project in August 2008, and Doosan Heavy faced fines of 16.6 billon won. The company filed an appeal to cancel the fines and court backed the firm, ruling that because Doosan Heavy hadn't played a major role in the collusion and had made a profit of only 1.8 billion won, its fine should be reduced. As a result, Doosan Heavy and Posco E&C became the only two firms to win appeal suits among 24 firms that filed appeals in the case. ...

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