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South Korea's shipping cartel probe draws strong backlash from shipping lines

By Wooyoung Lee ( July 30, 2021, 06:36 GMT | Insight) -- Financial penalties for alleged cartel violations proposed by the South Korean competition regulator against shipping lines have drawn a furious response from local shipping lines and concern from the Chinese government, which has intervened on behalf of two of its shipping lines. The regulator recently wrapped up a three-year cartel probe targeting major global and local shipping lines for suspected collusion on freight rates on sea routes between South Korea and Southeast Asia.The South Korean cartel probe into suspected collusion on freight rates involving international shipping lines has triggered a strong backlash from the local shipping lines and concern from the Chinese government....

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