Watchdog to fine soju makers 200 bln won

Korea`s antitrust watchdog said Wednesday it will fine 11 local liquor manufacturers more than 200 billion won ($173.3 million) for rigging product prices, according to Yonhap News.

Jinro and the other makers of soju, a popular Korean distilled beverage made from rice and other starches, have been notified of the punitive step, the Fair Trade Commission (FTC) said.

The FTC will fine Jinro the largest amount at 116.2 billion won, followed by Doosan, Daesun and Kumbokju -- slapped with 24.6 billion won, 20.6 billion won and 17.2 billion won, respectively.

Including those levied on other smaller companies, the fines could total 226.3 billion won, according to the watchdog.