Poultry meat processors have been fined for collusion in South Korea’s native chicken meat market.
Earlier this month, the Fair Trade Commission imposed fines totaling 699 million won (KRW; US$554,000) on six of South Korea’s poultry processors, as well as the industry association.
According to the Yonhap news agency, the penalties were meted out by the antitrust regulator for fixing both prices and supplies of poultry meat. These activities concerned indigenous chickens, and covered the period 2013-2017.
Among the companies named in the report was the industry leader, Harim Co., which received a fine of KRW303 million. A further five companies will have to pay a total of KRW292 million.
Investigations by the commission also revealed the involvement of the Korean Native Chicken Association in the market collusion. This body aims to support traditional chicken production. However, it was found to have set sales prices and supplies of these chickens between 2011 and 2016. For this, it received a fine of KRW104 million from the commission.
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