Financial Stand
Latest financial, market, economic news, stock markets, economy, and analysis from Financial Stand as it happens around the world.

South Korea cracks down on shipping cartel amid supply bottlenecks

Taiwan's Evergreen, Hong Kong's OOCL among those fined total $81m for price fixing

South Korea cracks down on shipping cartel amid supply bottlenecks

South Korean antitrust authorities on Tuesday slapped 96.2 billion won ($81 million) in fines on 23 domestic and foreign shipping companies including Hyundai Merchant Marine and Taiwan’s Evergreen Marine for price-fixing on multiple routes between South Korea and Southeast Asia over 15 years.

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

en_USEnglish