KOGAS sues construction firms over price fixing

Published : Mar 9, 2017 - 21:07 Updated : Mar 10, 2017 - 09:22

The state-run Korea Gas Corp. has filed a compensation suit against 13 construction companies over allegations they fixed prices for building its storage tanks, the companies said Thursday.

The world's largest LNG importer filed the some 200 billion won
($172 million) suit with the Daegu District Court on Feb. 16, according to the announcement made by Hyundai Engineering & Construction Co., Daewoo Engineering & Construction Co. and Daelim Industrial Co.

The logo of KOGAS (KOGAS)

In April last year, the Fair Trade Commission slapped the 13 construction firms with a total of 351.6 billion won of fines for allegedly participating in the tenders after already deciding on a successful bidder between 2005 and 2009, and requested the prosecution's investigation.

The three companies said they will appoint attorneys to actively respond to the case under legal procedures. (Yonhap)