South Korea's Trade Watchdog Begins Review of Alleged Starch-Sugar Cartel

MT Newswires Live

07/08

South Korea's Fair Trade Commission (FTC) began reviewing allegations that Daesang (KRX:001680), Sajo Industries (KRX:007160) subsidiary Sajo CPK, Samyang Corp. (KRX:145990), and CJ CheilJedang (KRX:097950) colluded in bid-rigging and price-fixing in the starch-sugar market.

The alleged bid-rigging for starch and starch-based sweetener tenders affected 9.4 billion won in sales between September 2016 and June 2025, the trade watchdog said in a Tuesday release.

It also accused Daesang, Sajo CPK, and Samyang of fixing prices for starch and starch-sugar by-products from August 2017 to October 2025, which affected sales of about 1.55 trillion won, it said.

The FTC imposed a fine of 234.1 billion won on Daesang and 210.3 billion won on Samyang Corp.

Shares of the food companies Daesang and Samyang fell 2%, while shares of the food manufacturer CJ Cheiljedang declined nearly 2% in recent trade.

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(KRX:145990), and CJ CheilJedang (KRX:097950) colluded in bid-rigging and price-fixing in the starch-sugar market.</p><p>The alleged bid-rigging for starch and starch-based sweetener tenders affected 9.4 billion won in sales between September 2016 and June 2025, the trade watchdog said in a Tuesday release.</p><p>It also accused Daesang, Sajo CPK, and Samyang of fixing prices for starch and starch-sugar by-products from August 2017 to October 2025, which affected sales of about 1.55 trillion won, it said.</p><p>The FTC imposed a fine of 234.1 billion won on Daesang and 210.3 billion won on Samyang Corp.</p><p>Shares of the food companies Daesang and Samyang fell 2%, while shares of the food manufacturer CJ Cheiljedang declined nearly 2% in recent trade.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK7509","symbol_name":"中概股","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2649295792","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2649295792","pubTimestamp":1783485698,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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(KRX:145990), and CJ CheilJedang (KRX:097950) colluded in bid-rigging and price-fixing in the starch-sugar market.The alleged bid-rigging for starch and starch-based sweetener tenders affected 9.4 billion won in sales between September 2016 and June 2025, the trade watchdog said in a Tuesday release.It also accused Daesang, Sajo CPK, and Samyang of fixing prices for starch and starch-sugar by-products from August 2017 to October 2025, which affected sales of about 1.55 trillion won, it said.The FTC imposed a fine of 234.1 billion won on Daesang and 210.3 billion won on Samyang Corp.Shares of the food companies Daesang and Samyang fell 2%, while shares of the food manufacturer CJ Cheiljedang declined nearly 2% in recent trade.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}