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Successful Use of KFTC’s Leniency and Amnesty Plus Programs in Conveyor Belt Cartel Case
- Recent Matters
- 2017.12.21
From 2013 to 2017, Yoon & Yang LLC successfully represented a leading multinational conveyor belt manufacturer in the KFTC’s investigation into the 14-year domestic conveyor belt cartel, which resulted in the client receiving full immunity and amnesty plus benefits without any administrative surcharge imposed or referral to the Korean Prosecutor’s Office.
On July 21, 2017, the KFTC announced its decision on this cartel case, which involved both price-fixing and bid-rigging, by imposing a total administrative surcharge of KRW 37.8 Billion (about USD 34 Million) on certain conveyor belt manufacturers while also referring some of them to the Korean Prosecutor’s Office for criminal prosecution.
This cartel case was the first cartel case heard by the new KFTC Chairman, Sang-jo Kim.
On July 21, 2017, the KFTC announced its decision on this cartel case, which involved both price-fixing and bid-rigging, by imposing a total administrative surcharge of KRW 37.8 Billion (about USD 34 Million) on certain conveyor belt manufacturers while also referring some of them to the Korean Prosecutor’s Office for criminal prosecution.
This cartel case was the first cartel case heard by the new KFTC Chairman, Sang-jo Kim.
- Practices
- #Antitrust & Competition
