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Five makers of steel wire in South Korea fined $4.5m for price fixing

By Wooyoung Lee ( October 21, 2025, 05:52 GMT | Insight) -- Five South Korean steel wire manufacturers were fined a combined 6.5 billion won ($4.5 million) by the country's competition regulator for colluding to fix prices of four types of steel wire. The Korea Fair Trade Commission said on Tuesday that Korea Steel, Daea Steel Wire, Cheongwoo Steel, Hanil Steel and Jinheung Steel coordinated to fix prices for galvanized steel wire and three other types of specialized steel wire between December 2016 and February 2022.Five South Korean steel wire manufacturers have been fined a combined 6.5 billion won ($4.5 million) by the country's competition regulator for colluding to fix prices of four types of steel wire....

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