Korean FTC probes price-fixing by foreign car shipping firms

[THE INVESTOR] The Fair Trade Commission is looking into allegations of price-fixing by international automobile shipping companies, the antitrust agency said Aug. 4.

According to the FTC, a number of foreign shipping companies may have colluded to fix prices between 2008 and 2012. 

Companies under investigation include Japan’s Nippon Yusen, K Line, Mitsui O.S.K. Lines, Norwegian firm Wallenius Wilhelmsen Logistics and Chile’s CSA.

Japanese shipping companies had received about 200 billion won (US$179.64 million) fines in 2014 after they admitted to unfair practices in 2014. In addition, the US and Chinese antitrust agencies have found similar activities by a total of 13 shipping companies.

By Choi He-suk (cheesuk@heraldcorp.com)