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South Korean architectural firms fined for bid rigging following criminal probe

By Wooyoung Lee ( April 29, 2025, 07:37 GMT | Insight) -- A total of 20 South Korean architectural firms were fined a combined $16 million today by the country’s competition regulator for rigging bids in construction-supervision projects for apartments, government buildings and hospitals across the country. The Korea Fair Trade Commission's sanctions follow a criminal probe by the prosecution service, which indicted 17 firms and dozens of individuals last year for collusion and bribery.A total of 20 South Korean architectural firms were fined a combined 23.7 billion won ($16 million) today by the country’s competition regulator for rigging bids in construction-supervision projects for apartments, government buildings and hospitals across the country....

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