South Korea: Printing industry protests reduced fines for paper price-fixing

Small and medium-sized printing businesses are protesting a decision by the Fair Trade Commission (FTC) to reduce fines for paper companies involved in price-fixing. The printing industry groups expressed regret over the FTC's move, stating it effectively grants a 'get out of jail free' card for repeated price-fixing behavior.

In a joint statement on the 20th, the Korea Printing Cooperatives Federation and other small and medium-sized printing businesses criticized the FTC's decision. They argue that the reduction of fines, totaling 194.2 billion won, for companies like Hansol Paper, which engaged in price-fixing from February 2021 to December 2024, is unacceptable.

The printing industry contends that this leniency undermines fair competition and penalizes smaller businesses that adhere to regulations. They are calling for a reconsideration of the FTC's decision, emphasizing the need for stricter enforcement against anti-competitive practices in the paper industry.

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effectively granted virtual immunity for the repeated price-fixing activities of the paper industry.