SEOUL, KOREA - HanGlas and KCC Corp., Korea's No. 1 and 2 companies in plate glass, were found to have engaged in price collusion for 2 years and 5 months. The Korea Fair Trade Commission said the companies have made illegal gains of 910 billion won from the collusive behavior.
The regulator accordingly imposed on June 10 a fine of 22.45 billion won to KCC Corp. and 15.97 billion won to HanGlas, respectively, while reporting the matter to the prosecutor's office for criminal investigation.
According to the Fair Trade Commission, the two construction materials suppliers have raised the prices of 5 to 6 millimeter clear and green glass panels four times from November 2006 to April 2009, in each occasion by 10 to 15 percent. As a result, clear glass panel price has risen an average of 62 percent from 3,413 won to 5,512 won per square meter while that for green glass panels has increased 73 percent from 3,582 won to 6,187 won.
저작권자 © Korea IT Times 무단전재 및 재배포 금지
