BUSINESS

Dongwon Industries' US unit fined in tuna price-fixing case

By Yonhap
  • Published : Sept 16, 2019 - 20:34
  • Updated : Sept 16, 2019 - 20:38

A US federal court has ordered Dongwon Industries' US unit StarKist Co. to pay a $100 million (118 billion won) fine in a canned tuna price-fixing case, the Korean tuna company said Monday.


(Yonhap)

StarKist plans to pay the fine in installments over the next five years. Of the planned payment, $50 million has already been reflected in the upcoming second-quarter earnings results, and the remainder will be factored in the bottom line later, Dongwon Industries said in a regulatory filing.

The Pittsburgh, Pennsylvania-based company is wholly owned by Dongwon Industries. (Yonhap)


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