The Korea Fair Trade Commission said on the 9th that it has launched on-site inspections of major companies, including CJ CheilJedang, Daesang, Samyang Corporation and Sajo CPK, over alleged collusion in the starch sugar market, including corn syrup and oligosaccharides. Starch sugar is a sweetener made from starch such as corn and is used in many processed foods, including beverages, snacks and dairy products, in the form of corn syrup and oligosaccharides.
Chairperson Ju Biung-ghi said at a New Year's press briefing with reporters on the 8th that "separately from the investigations into sugar, pork and flour, we recently detected allegations regarding starch sugar and are investigating," adding, "we will run a dedicated investigation team to wrap up the probe quickly."
The Korea Fair Trade Commission (FTC) has recently continued its review of collusion across the basic food materials and supplies market directly tied to everyday prices. In Oct. last year, it examined whether major flour millers, including Daehan Flour Mills Co., SAJODONGAONE and Samhwa Flour Mills, colluded on flour prices, and in 2024 it conducted on-site inspections into allegations of price collusion on sugar involving CJ CheilJedang, Samyang Corporation and TS Corporation. Regarding the pork market, it also investigated whether meat processors, including Mokuchon, Dodram and the Bugyeong Pork Producers Agricultural Cooperative, colluded on prices. The starch sugar probe is likewise part of the FTC's stance to review the overall basic food materials and supplies sector.
Chairperson Ju also stated a position on discussions about regulating online platforms linked to the recent Coupang matter. Ju said, "The online platform law is not aimed at U.S. corporations and is an ex post facto regulation that applies equally to domestic platform operators such as Naver as well as Coupang," explaining that it is "a system to address unfair transactions and power imbalance issues that can arise in the course of online platform transactions."
On the level of penalty surcharge sanctions, Chairperson Ju said, "Korea imposes a penalty surcharge capped at 6% of relevant sales for abuses of market-dominant position, whereas the European Union (EU) is at 20% or 30%, and Japan is around 15%," adding, "as Korean corporations have grown into global corporations, regulation should be made realistic to a level that can hold corporations accountable for social responsibility."
In addition, the Korea Fair Trade Commission (FTC) plans to open the Gyeongin office in Anyang in early Mar. to strengthen responses to livelihood cases in the Seoul metropolitan area. Chairperson Ju said, "This is a measure that considers accessibility for petitioners in Gyeonggi and Incheon," adding, "it will have about 50 people, and we will mainly staff it with those who have investigative experience."