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SK E&C wins appeal against KFTC over fine for bid rigging on subway project

( November 6, 2017, 02:21 GMT | Insight) -- The Seoul High Court has ruled in favor of SK E&C in an appeal against the Korea Fair Trade Commission to cancel fines imposed for alleged bid rigging on the Seohae subway-line project, Financial News reports.The Seoul High Court has ruled in favor of SK E&C in an appeal against the Korea Fair Trade Commission to cancel fines imposed for alleged bid rigging on the Seohae subway-line project, Financial News reports. In October 2015, the commission imposed combined fines of 27.4 billion won ($24.5 million) on four construction firms including SK, Daelim Industrial, Hyundai Development Company and Hyundai E&C for pre-arranging bid prices by drawing lots. SK was fined 4.6 billion won for its involvement but decided to appeal, claiming the fine was unfair. The Seoul court said the fines imposed on SK should be canceled because there was an error in the regulator’s calculation. When estimating violation-related sales, the commission should have deducted the amount of articles supplied by the government, the court said....

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