This is the new MLex platform. Existing customers should continue to use the existing MLex platform until migrated.
For any queries, please contact Customer Services or your Account Manager. Dismiss

Korea Gas Corp to seek damages from 10 construction firms in LNG tank collusion case

( May 11, 2016, 06:36 GMT | Insight) -- Korea Gas Corp has decided to file a damages suit against 10 construction companies, including Samsung C&T, Daewoo E&C, Hyundai E&C and Daelim Industrial, for allegedly rigging bids on LNG storage tank projects it tendered, News Pim reports.Korea Gas Corp has decided to file a damages suit against 10 construction companies, including Samsung C&T, Daewoo E&C, Hyundai E&C and Daelim Industrial, for allegedly rigging bids on LNG storage tank projects it tendered, News Pim reports. The lawsuit is expected to be worth between 300 billion won ($256 million) and 400 billion won, which would make it the biggest damages suit ever filed by the gas company. The construction firms stand accused of pre-arranging bid prices and were fined a combined 351.6 billion won by the Korea Fair Trade Commission on April 26. Korea Gas Corp is in the process of selecting legal represenation, after which its suit will be launched. ...

Prepare for tomorrow’s regulatory change, today

MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.


Know what others in the room don’t, with features including:

  • Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
  • Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
  • Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
  • Curated case files bringing together news, analysis and source documents in a single timeline

Experience MLex today with a 14-day free trial.

Start Free Trial

Already a subscriber? Click here to login

Related Sections