The antitrust regulator has initiated a review of potential penalties for four companies accused of colluding to manipulate sweetener prices for over seven years. The Fair Trade Commission (FTC) completed a six-month investigation, determining that the companies engaged in cartel behavior to control prices of starch sugar products from May 2018 to October 2025. The companies involved are Daesang, SajoCPK, Samyang, and CJ Cheiljedang, as per reports from Yonhap news agency.
Inspectors estimated that the companies collectively lost around 6.2 trillion won ($4.2 billion) in revenue due to their unfair practices. The FTC is considering imposing fines on the companies and issuing corrective measures, such as price adjustments. Under the relevant laws, the FTC can levy fines of up to 20 percent of the affected sales due to collusive activities.
The FTC has commenced a thorough review of the investigation report to promptly reach a final decision on the matter. Additionally, the report has been shared with the companies to enable them to exercise their defense rights. The regulatory body emphasized its commitment to eliminating collusive behaviors to stabilize market prices and safeguard consumers’ interests.
Last month, the FTC also began evaluating potential penalties for seven flour producers implicated in a suspected collusion case. In a separate incident, the FTC imposed a combined fine of 408 billion won on three major sugar manufacturers for suspected price-fixing activities.
