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Non-destructive inspection firms fined in bid-rigging case

( August 19, 2016, 06:54 GMT | Official Statement) -- MLex Summary: The Korea Fair Trade Commission has imposed corrective orders and combined fines of 6.1 billion won ($5.5 million) on six non-destructive inspection service providers for alleged bid rigging. The companies are SITCO, Jis Corp, Argus, Hankuk Industrial Engineering, Samyong Inspection Engineering and Yuyeong Inspection. They stand accused of pre-arranging bid prices and winners of tenders ordered by Korea Electric Power Corp in 2011 for a nuclear power plant project in the United Arab Emirates. A consortium composed of Jis and Yuyeong won the bid at 88.7 percent of the expected price. The commission also decided to refer the companies to prosecutors. The regulator's statement, in Korean, is attached....

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