This is the new MLex platform. Existing customers should continue to use the existing MLex platform until migrated.
For any queries, please contact Customer Services or your Account Manager. Dismiss

South Korean furniture makers fined $19m for bid rigging

( December 29, 2025, 04:48 GMT | Official Statement) -- MLex Summary: Major South Korean furniture makers Hanssem, Hyundai Livart and 46 other companies have been fined a combined 25 billion won ($19 million) by the country’s competition regulator for rigging bids in tenders for built-in and system furniture for new apartment projects for nearly a decade. The Korea Fair Trade Commission said on Monday that the companies predetermined bid winners and coordinated bidding prices in advance to ensure that they won the bids. The KFTC found that 35 furniture makers colluded in 240 procurement tenders placed by 54 construction companies from 2013 to 2022, while 16 companies colluded in 93 tenders issued by 16 construction companies from 2016 to 2022. The statement, in Korean, is attached....

Prepare for tomorrow’s regulatory change, today

MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.


Know what others in the room don’t, with features including:

  • Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
  • Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
  • Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
  • Curated case files bringing together news, analysis and source documents in a single timeline

Experience MLex today with a 14-day free trial.

Start Free Trial

Already a subscriber? Click here to login

Documents

Related Sections