Most Popular
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[AtoZ into Korean mind] Humor in Korea: Navigating the line between what's funny and not
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Yoon seeks rebound, taps 5-term lawmaker as chief of staff
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Medical standoff deepens as doctors reject new med school plan, talks
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[Herald Interview] Why Toss invited hackers to penetrate its system
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[Exclusive] Korean military set to ban iPhones over 'security' concerns
![[Exclusive] Korean military set to ban iPhones over 'security' concerns](//res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/04/23/20240423050599_0.jpg&u=20240423183955)
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[Graphic News] 77% of young Koreans still financially dependent
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S. Korean envoys convene to navigate strategy amid Middle East tensions
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Korean, Romanian leaders discuss defense tech, nuclear energy
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North Korea fires several short-range ballistic missiles into sea: JCS
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Samsung, SK hynix investors dump shares on Nvidia crash
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South Korea's antitrust regulator said Tuesday it has decided to impose a combined 6.53 billion-won ($5.06 million) fine on six logistics firms for fixing prices.
Industry leader CJ Logistics Corp., Dongbang Transport Logistics and four others colluded to fix price quotes in order to win bids for loading and unloading work at ports that was offered by top steelmaker POSCO between 2016 and 2018, according to the Fair Trade Commission (FTC).
They colluded to divide volumes of work in advance and fix bidding prices in order to easily win contracts, the regulator said.
The FTC plans to impose the largest fine on Dongbang at 2.2 billion won, followed by CJ Logistics at 1.02 billion won.
The regulator said the latest punitive action will help curb collusion in the transport market and spur competition. (Yonhap)
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