Prosecutors on the 23rd launched raids over alleged price-fixing against four companies that manufacture and sell starch sugars, including corn syrup and oligosaccharides: CJ CheilJedang, Daesang, Samyang, and Sajo CPK. Starch sugar refers to sweeteners that include corn syrup, oligosaccharides, and fructose made from corn starch.
According to ChosunBiz reporting, the Seoul Central District Prosecutors' Office Fair Trade Investigation Division (Director General Na Hee-seok) on the afternoon of the day launched raids on the headquarters of CJ CheilJedang, Daesang, Samyang, and Sajo CPK. Prosecutors are currently investigating the four companies on suspicion of violating the Fair Trade Act by colluding on the prices of key starch sugar products.
Earlier, on the 2nd, prosecutors investigated alleged collusion by sugar and flour companies and indicted them on charges of violating the Fair Trade Act. During the investigation into those companies, they detected alleged collusion in starch sugar and launched a probe.
Meanwhile, regarding the alleged collusion by starch sugar companies, the Korea Fair Trade Commission launched an on-site investigation earlier this year.