South Korea's Fair Trade Commission (FTC) has imposed provisional fines totaling 25 billion won and corrective orders on 48 furniture manufacturers and sellers for colluding on bids for built-in and system furniture between 2013 and 2022, according to a Monday statement.

The FTC found that sales representatives coordinated successful bidders and bid prices through meetings or calls, which secondary operators then used to submit rigged bids. The collusion affected 333 bids from 67 construction companies.

Built-in furniture includes units like sinks and closets installed in apartments and officetels, while system furniture consists of modular shelves on aluminum columns.

Since last year, the competition regulator has intensified scrutiny of bid-rigging in this sector. Including the latest action, 63 furniture firms have faced fines or corrective orders totaling 142.7 billion won.