Corporate watchdog fines 6 LPG suppliers 668.9 bln won for price-rigging

LPG suppliers-price rigging


SEOUL, Dec. 2 (Yonhap) -- South Korea's antitrust watchdog said Wednesday that it
has decided to fine six major liquefied petroleum gas (LPG) suppliers a combined
668.9 billion won (US$580 million) for their involvement price-fixing in the
local market.

The companies subject to the regulatory measure are E1 Corp., SK Gas Co., SK
Energy Co., GS Caltex Corp., Hyundai Oilbank Co. and S-Oil Corp., the Fair Trade
Commission said in a statement.
The penalty is less than the earlier forecast of more than 1 trillion won, but it
is still a large amount to be imposed on a single industry here, indicating that
the government will get tough on activities that hamper fair market competition.
kokobj@yna.co.kr
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