Korea's Fair Trade Commission Probes Possible Collusion in Starch-Sugar Market
Creatrip Team
2 months ago
The Korea Fair Trade Commission (KFTC) said it is investigating possible price-fixing in the domestic starch-sugar (products like corn syrup, oligosaccharides, and fructose) market. Chairman Joo Byung-ki disclosed the probe at a New Year briefing, noting the inquiry joins earlier investigations into sugar, pork, and flour. The KFTC is examining whether four major companies—Daesang, Samyang, Sajo CPK, and CJ CheilJedang—colluded for years to set starch-sugar prices, which affect processed food costs. Joo also defended raising penalty limits to better hold dominant firms accountable, calling it a rational adjustment to align sanctions with corporate responsibility.
