S. Korea Investigates Alleged Starch Sugar Price-Fixing

South Korea Antitrust Watchdog Reviews Penalties Over Alleged Sweetener Price-Fixing Cartel​

FTC Concludes Investigation Into Seven-Year Sweetener Price Collusion​

Seoul, March 6: South Korea’s antitrust regulator has begun reviewing potential penalties against four major food companies accused of colluding to fix the prices of sweeteners for more than seven years.

Inspectors at the Fair Trade Commission (FTC) recently completed a six month investigation that concluded the companies formed a cartel to coordinate prices of starch sugar products between May 2018 and October 2025.

The companies under scrutiny are Daesang, SajoCPK, Samyang, and CJ Cheiljedang.

Alleged Collusion Impacted Revenue Worth 6.2 Trillion Won​

According to officials involved in the probe, the companies’ combined revenue affected by the alleged unfair practice is estimated at approximately 6.2 trillion won, equivalent to about $4.2 billion.

Investigators have proposed that the FTC impose fines and issue corrective measures, including price adjustments, if the violations are confirmed.

Under South Korean competition law, the regulator can levy penalties of up to 20 percent of the sales linked to collusive conduct.

The FTC said it has started reviewing the investigation report in order to reach a final decision quickly. The report has also been shared with the companies, allowing them to present their defense before the regulator concludes the case.

Broader Crackdown on Price Collusion​

The review comes amid a broader effort by the watchdog to clamp down on cartel activities and maintain stable market pricing.

Last month, the FTC also began examining potential penalties against seven flour producers accused of collusion. In another case, the regulator imposed combined fines of 408 billion won on three major sugar manufacturers over allegations of price fixing.

Gas Stations Under Scrutiny as Fuel Prices Rise​

Separately, the FTC said it will intensify monitoring of gas stations nationwide to detect potential price gouging as fuel prices rise sharply.

The regulator stated that regional offices will closely track stations with unusually high fuel prices and launch on site investigations if signs of collusion emerge.

Fuel prices in South Korea have climbed in recent days despite no immediate disruptions to the country’s oil supply. The surge has been linked to heightened geopolitical tensions in the Middle East following military actions involving the United States, Israel, and Iran.