Posted on January 19, 2022

South Korea’s antitrust regulator said that it has decided to impose a combined fine of $80.7 million in fines on 23 Korean and foreign shipping companies for collusion to fix freight rates.

The Fair Trade Commission has been looking into allegations that the country’s top shipping company and 22 local and foreign shipping lines colluded to agree high freight rates for Southeast Asian shipping routes.

They colluded on container cargo services 120 times between December 2003 and December 2018 to increase the minimum level of freight rates and other costs.

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