The South Korean prosecution sued six petrochemical companies and 37 current and former executives and employees, accusing them of collusive tenders involving approximately 16.4 tons of products. Allegedly, these companies coordinated the timing and magnitude of price changes for eight types of petrochemical products from January 2021 to April 2026. The companies also agree in advance on the winning bidders and bid prices for major customers. Two former and current executives have been detained and charged, while 35 other executives and employees have been prosecuted but not taken into custody.
Zhitongcaijing · 2d ago
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The South Korean prosecution sued six petrochemical companies and 37 current and former executives and employees, accusing them of collusive tenders involving approximately 16.4 tons of products. Allegedly, these companies coordinated the timing and magnitude of price changes for eight types of petrochemical products from January 2021 to April 2026. The companies also agree in advance on the winning bidders and bid prices for major customers. Two former and current executives have been detained and charged, while 35 other executives and employees have been prosecuted but not taken into custody.
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