South Korean Glass Manufacturers Fined $34 Million for Price Fixing

Yonhap News Agency
June 10, 2013

South Korea's antitrust watchdog has fined two major domestic glass manufacturers a combined $34.24 million for colluding on product prices, according to a June 10 report from the Yonhap News Agency. KCC Corp. and Hanglas, which account for about 80 percent of the country's flat glass market, were accused by the Fair Trade Commission of colluding to raise prices of 5-6 mm flat glass products for the construction industry four times from November 2006 to April 2009, according to the report.