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Korea Fair Trade Commission fines seven construction companies for bid rigging

( July 27, 2015, 09:04 GMT | Official Statement) -- MLex Summary: The Korea Fair Trade Commission issued correction orders and fined seven construction companies a combined total of 2.67 billion won ($2.28 million) for bid rigging. According to the KFTC, Kolon Global Co., Doosan Construction and five other construction companies colluded to set the bids at four different government waste water treatment facility contracts from 2010 to 2011. The KFTC said that due to the fact that these companies colluded to fix the prices at biddings that directly impacted the quality of citizens’ lives, the regulator decided to impose a considerable fine and that the KFTC would continue to strengthen its monitoring of public biddings.The regulator's full statement, in Korean, is attached....

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