8 South Korean oil firms fined for conspiracy to fix prices

24-Jun-08
South Korea's anti-trust watchdog has fined 8 petrochemical companies a combined 12.73 bln won (US$12.4 mln) for conspiring price fixing of six primary and intermediate petrochemicals between October 2000 and September 2004. SK Energy Co. was levied with the largest fine of 4.84 bln won, followed by GS Caltex Co. with 2.87 bln won and Samsung Total Petrochemicals Co. with 1.77 bln won.
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