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Antitrust - Furniture firms - Bid-rigging cartel (South Korea)

Bid-rigging in the South Korean furniture industry, involving major players like Hanssem, Hyundai Livart and Enex, first came to light in April 2023 when prosecutors indicted eight companies and 12 executives, with criminal trials ongoing. The Korea Fair Trade Commission has since ramped up enforcement, imposing 93.1 billion won (about $65.2 million) in fines on 31 firms in April 2024 for bid-rigging on built-in furniture, 6.7 billion won on nine firms in October 2024 for collusion in apartment bathroom construction projects, 18.3 billion won on 20 firms in February 2025 for storage unit contracts and 5.2 billion won on 13 firms the same month for another built-in furniture scheme.

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