Fair Trade Commission searches five companies over alleged red-pepper-paste and soybean-paste price fixing
Translated from Korean and summarized by DistantNews. Read the original for the full story.
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Official statement
Under investigation
- South Korea’s Fair Trade Commission launched on-site inspections of CJ CheilJedang, Pulmuone, Daesang, Sempio and Sajo Daelim.
- Investigators are examining whether the companies colluded on prices for gochujang, doenjang and soy sauce.
- The agency previously penalized CJ CheilJedang and Daesang over alleged coordination of promotional discounts on gochujang.
South Korea’s Fair Trade Commission has begun on-site inspections of five food companies over suspected price fixing involving traditional sauces and pastes.
The companies under inspection are CJ CheilJedang, Pulmuone, Daesang, Sempio and Sajo Daelim. Investigators are examining whether they coordinated prices while supplying gochujang, doenjang and soy sauce.
The market has previously drawn antitrust action. In 2011, the commission fined CJ CheilJedang and Daesang a combined 1.052 billion won and referred the companies and related executives for prosecution over alleged coordination of promotional discount rates on gochujang.
About this summary
Originally published by Hankyoreh in Korean. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.
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