Collusion
South Korea fines four major banks 272 billion won for LTV collusion
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South Korea's Fair Trade Commission has imposed a combined fine of 272 billion won on four major banks—KB Kookmin, Shinhan, Woori, and Hana—for colluding on real estate loan-to-value (LTV) ratios. The banks exchanged information from March 2022 to March 2024 to avoid competition. This practice limited options for consumers and small businesses seeking mortgages.
South Korea's Fair Trade Commission (FTC) imposed collusion-related corporate fines more than triple the total for all of 2025 in the first quarter, data showed. According to corporate tracker CEO Score, the January-March fines reached 689.1 billion won ($456 million). These accounted for 97.5 percent of total corporate fines of 707 billion won.