Fair Trade
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.
Korea's three major sugar producers, CJ CheilJedang, Samyang, and TS, have been fined a combined 408.2 billion won ($282 million) for colluding to fix sugar prices. The Fair Trade Commission (FTC) stated that the companies conspired on eight occasions from February 2021 to April 2025. This occurred while consumers were suffering from the COVID-19 pandemic's fallout.