The Korea Fair Trade Commission said on the 9th it imposed a total penalty surcharge of 3.009 billion won on six paper companies that colluded on the winning bid price and other terms in a printing paper tender ordered by Nongmin Shinmun.
The Korea Fair Trade Commission (FTC) said that from June 2021 to Nov. 2024, six corporations that took part in printing paper tenders ordered by Nongmin Shinmun—Moorim SP, Moorim Paper, Moorim P&P, Hansol Paper, Hankuk Paper, and Hongwon Paper—agreed in advance on bid prices and other terms.
According to the Korea Fair Trade Commission (FTC), these corporations colluded on the expected winner, the cover bidders, and bid prices through meetings or phone calls before bidding to prevent low-price awards and maintain high winning rates.
The Korea Fair Trade Commission (FTC) said, "The six paper companies colluded on prices for all printing paper products around the same period," and added, "In that vein, they also sought to keep overall printing paper prices high by restricting mutual competition in the tenders held by Nongmin Shinmun to maintain winning bid prices above a certain level."