Fair Trade Act furniture sector
South Korea’s Fair Trade Commission Fines 48 Furniture Companies Over Bid Collusion in Built-In Furniture Contracts
The Korea Fair Trade Commission (FTC) has imposed 25 billion won (≈ US$17.4 million) in fines on 48 South Korean furniture firms for coordinating bids on built-in furniture contracts over nearly a decade, in a major antitrust enforcement action aimed at restoring fair competition in an industry critical to housing construction.