Consumers in Korea have been consistently overcharged for their plastic products over the last 20 years. The Fair Trade Commission has found 10 petrochemical companies to have made unfair profits through a price-fixing scheme and decided to impose on them fines of W200 billion (US$1=W939). This figures represents the largest financial punishment imposed in the FTCI's history. The petrochemical producers include SK Corporation, LG Chem and Honam Petrochemical Corp. who have constantly manipulated prices and the production amount of polyethylene since the late 1970s. The FTC plans to finalize the fines handed down at a general meeting towards the end of the year.
20-Nov-06 
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