( April 17, 2024, 06:54 GMT | Official Statement) -- MLex Summary: Six companies under South Korea's KH Group, including KH Feelux, KH Electronics, KH Construction, iHQ, KH Gangwon Development and KH Rural Industry, were hit with a total fine of 51 billion won (about $36.8 million) and corrective orders by the country's competition watchdog for colluding in a bid for the sale of Alpensia Resort assets by Gangwondo Development Corporation in June 2021. According to a statement from the Korea Fair Trade Commission, the companies conspired to predetermine the bid winner and manipulate bid prices. The scheme involved KH Feelux establishing KH Gangwon Development to win the bid, while KH Construction set up KH Rural Industry to act as a dummy bidder. The regulator said it has also decided to refer KH Feelux, KH Construction, KH Gangwon Development, KH Rural Industry, and the group's chairman, Bae Sang-yoon, to prosecutors, because of their level of involvement in the case and cooperation with the investigation.The statement, in Korean, is attached....
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