South Korea fines financial firms $1.2bn over government bond bid-rigging
( November 11, 2026, 03:16 GMT | Official Statement) -- MLex Summary: Fifteen South Korean banks and securities firms, including KB Securities, NH Investment & Securities and Mirae Asset Securities, have been fined a combined 1.6 trillion won ($1.2 billion) for colluding in government bond auctions over three and a half years. The Korea Fair Trade Commission said Wednesday it had decided to impose the fines after finding that the institutions coordinated bidding yields and volumes or agreed to exchange sensitive bidding information in 150 auctions between January 2020 and June 2023, with explicit bid-rigging agreements identified in 145 cases. The regulator found that the arrangements undermined competition and artificially raised government bond auction yields, increasing borrowing costs for the government. It also ordered corrective measures and decided to refer seven institutions for criminal investigation.Statement is attached (in Korean)....
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