South Korea’s Fair Trade Commission (FTC) has fined Korea Yamazaki Mazak Co., Ltd. and Doo Kwang Machinery Co., Ltd. KRW 174 million (USD 126,000) for collusion in five machine tool purchase bids from December 2019 to October 2022. The companies jointly prepared bid proposals and coordinated pricing for bids issued by Chungnam Techno Park and Jeonnam Techno Park. The FTC issued a corrective order alongside the fine to address this anti-competitive practice.
Source: https://www.ftc.go.kr/www/selectReportUserView.do?key=10&rpttype=1
