Daehan Sugar Apologizes for Sugar Price Collusion—'Will Strictly Enforce Accountability'
Daehan Sugar Co. apologized after South Korea's Fair Trade Commission found it engaged in sugar price collusion, pledging stricter compliance and internal controls to prevent future violations.
South Korea's Fair Trade Commission fined CJ CheilJedang, Samyang Corp., and Daehan Sugar a record 408.3 billion won for colluding to fix sugar prices, marking the nation's second-largest cartel penalty and requiring ongoing price reporting.
#YonhapInfomax #FairTradeCommission #CJCheilJedang #PriceFixing #SugarMarket #4083BillionWon #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket https://en.infomaxai.com/news/articleView.html?idxno=105218
'Sugar Price-Fixing'—CJ CheilJedang, Samyang Corp., Daehan Sugar Hit with 408.3 Billion Won Fine (Comprehensive)
South Korea's Fair Trade Commission fined CJ CheilJedang, Samyang Corp., and Daehan Sugar a record 408.3 billion won for colluding to fix sugar prices, marking the nation's second-largest cartel penalty and requiring ongoing price reporting.
Samyang Corp. has apologized for its involvement in sugar price-fixing, pledging stronger compliance, new anti-collusion rules, and withdrawal from the Korea Sugar Association following the Fair Trade Commission’s probe.
#YonhapInfomax #SamyangCorp #FairTradeCommission #PriceFixing #Compliance #KoreaSugarAssociation #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket https://en.infomaxai.com/news/articleView.html?idxno=105228
Samyang Corp. Issues Apology Over Sugar Price-Fixing—Withdraws from Association, Implements Anti-Collusion Measures
Samyang Corp. has issued a public apology after South Korea’s Fair Trade Commission found it engaged in sugar price-fixing, pledging to strengthen compliance, revise internal controls, and withdraw from the Korea Sugar Association to prevent future collusion.
CJ CheilJedang Co. apologized for its role in sugar price-fixing, announced withdrawal from the Korea Sugar Association, and unveiled strict measures to prevent future collusion, including a new transparent pricing system and reinforced compliance oversight.
#YonhapInfomax #CJCheilJedang #FairTradeCommission #PriceFixing #SugarAssociation #ComplianceManagement #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket https://en.infomaxai.com/news/articleView.html?idxno=105216
CJ CheilJedang Issues Apology for Price-Fixing, Withdraws from Sugar Association—Vows to Prevent Recurrence
CJ CheilJedang Co. apologized for its role in sugar price-fixing, announced withdrawal from the Korea Sugar Association, and unveiled strict measures to prevent future collusion, including a new transparent pricing system and reinforced compliance oversight.
South Korea’s Fair Trade Commission Chair Joo Byung-ki announced that fines imposed on three major sugar producers for price-fixing exceed their illicit gains, but called for legislative changes to raise penalty caps, citing that current limits are insufficient to deter cartel activity.
#YonhapInfomax #FairTradeCommission #SugarCartel #AntitrustFines #PriceFixing #IllicitGains #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket https://en.infomaxai.com/news/articleView.html?idxno=105205
Joo Byung-ki Says Sugar Cartel Fines Exceed Illicit Gains—Calls for Higher Penalty Caps
South Korea’s Fair Trade Commission Chair Joo Byung-ki announced that fines imposed on three major sugar producers for price-fixing exceed their illicit gains, but called for legislative changes to raise penalty caps, citing that current limits are insufficient to deter cartel activity.
South Korea's Fair Trade Commission fined CJ CheilJedang, Samyang Corp., and Daehan Sugar a combined 408.3 billion won ($305 million) for colluding to fix sugar prices, marking the second-largest cartel penalty in Korean history.
#YonhapInfomax #FairTradeCommission #CJCheilJedang #SamyangCorp #PriceFixing #SugarMarketShare #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket https://en.infomaxai.com/news/articleView.html?idxno=105195
'Sugar Price-Fixing'—CJ CheilJedang, Samyang Corp., and Daehan Sugar Hit with 408.3 Billion Won Fine
South Korea's Fair Trade Commission fined CJ CheilJedang, Samyang Corp., and Daehan Sugar a combined 408.3 billion won ($305 million) for colluding to fix sugar prices, marking the second-largest cartel penalty in Korean history.
South Korea's Fair Trade Commission has launched a joint task force to intensify monitoring and enforcement against unfair trade practices that could drive up prices ahead of the Lunar New Year, focusing on high-risk consumer goods and collaborating with other agencies to ensure price stability.
#YonhapInfomax #FairTradeCommission #PriceStability #UnfairTrade #LunarNewYear #ConsumerGoods #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket https://en.infomaxai.com/news/articleView.html?idxno=104881Large conglomerates continue to dominate South Korea’s mining and manufacturing sectors, with their shipment share exceeding 50% for a second year, highlighting persistent market concentration despite regulatory scrutiny.
#YonhapInfomax #FairTradeCommission #MiningAndManufacturing #LargeConglomerates #MarketConcentration #ShipmentShare #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket https://en.infomaxai.com/news/articleView.html?idxno=104737South Korea's major conglomerates, including SK Group, reduced their number of affiliates by 42 over three months as they restructured business portfolios to focus on profitability, according to the Fair Trade Commission.
#YonhapInfomax #SKGroup #FairTradeCommission #BusinessRestructuring #Affiliates #Profitability #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket https://en.infomaxai.com/news/articleView.html?idxno=104672
Number of Affiliates at Major Conglomerates Drops by 42 as Business Structures Shift Toward Profitability
South Korea's major conglomerates, including SK Group, reduced their number of affiliates by 42 over three months as they restructured business portfolios to focus on profitability, according to the Fair Trade Commission.
South Korea's Fair Trade Commission has launched a task force to consider exempting SMEs from antitrust rules during collective bargaining with large firms, aiming to strengthen the negotiating power of economically underprivileged groups while safeguarding market stability.
#YonhapInfomax #FairTradeCommission #FairTradeAct #SMEs #CollectiveBargaining #AntitrustExemption #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket https://en.infomaxai.com/news/articleView.html?idxno=104561
Fair Trade Commission Forms Task Force to Overhaul Antitrust Rules—Aims to Strengthen Bargaining Power of Economic Underprivileged
South Korea's Fair Trade Commission has launched a task force to consider exempting SMEs from antitrust rules during collective bargaining with large firms, aiming to strengthen the negotiating power of economically underprivileged groups while safeguarding market stability.
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