South Korea’s corporate watchdog said Sunday that it has decided to slap a total of 36 billion won (US$32 million) in fines on nine Japanese firms for allegedly colluding to maintain or raise prices of capacitors, a key electrical component used in smartphones and many other electric devices.
According to the Fair Trade Commission (KFTC), Tokin and eight other Japanese firms have colluded to rig prices of capacitors sold in South Korea and other nations, between July 2000 and January 2014
They agreed to avoid excessive price cuts and share related information in order to jointly respond to calls for price cuts, according to the KFTC.
The watchdog said the cartel activities have affected prices of capacitors worth 737 billion won sold during the cited period to Samsung Electronics, LG Electronics and other local electronic companies.
Full Content: Yonhap News Agency
Featured News
Judge Appoints Law Firms to Lead Consumer Antitrust Litigation Against Apple
Dec 22, 2024 by
CPI
Epic Health Systems Seeks Dismissal of Antitrust Suit Filed by Particle Health
Dec 22, 2024 by
CPI
Qualcomm Secures Partial Victory in Licensing Dispute with Arm, Jury Splits on Key Issues
Dec 22, 2024 by
CPI
Google Proposes Revised Revenue-Sharing Limits Amid Antitrust Battle
Dec 22, 2024 by
CPI
Japan’s Antitrust Authority Expected to Sanction Google Over Monopoly Practices
Dec 22, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – CRESSE Insights
Dec 19, 2024 by
CPI
Effective Interoperability in Mobile Ecosystems: EU Competition Law Versus Regulation
Dec 19, 2024 by
Giuseppe Colangelo
The Use of Empirical Evidence in Antitrust: Trends, Challenges, and a Path Forward
Dec 19, 2024 by
Eliana Garces
Some Empirical Evidence on the Role of Presumptions and Evidentiary Standards on Antitrust (Under)Enforcement: Is the EC’s New Communication on Art.102 in the Right Direction?
Dec 19, 2024 by
Yannis Katsoulacos
The EC’s Draft Guidelines on the Application of Article 102 TFEU: An Economic Perspective
Dec 19, 2024 by
Benoit Durand