Korea Electric Power Corporation headquarters building. (Photo=Yonhap News)

 

[Alpha Biz=(Chicago) Reporter Kim Jisun] Four companies that have colluded for 17 years will be subject to government sanctions in bidding for the purchase of serial reactors and discharge coils ordered by KEPCO.

The Fair Trade Commission said on the 24th that it will impose a fine of 853 million won on four companies, Samjeong Electric Industry, Ssangyong Electro-Mechanics, Hanyang Electric Industry and Hyeophwa Electric Industry, which violated the Fair Trade Act, along with a correction order.

According to the FTC's investigation, the four companies agreed to equally distribute supplies to a total of 231 cases ordered by KEPCO from February 2002 to February 2019 and colluded by deciding the winning bidder in advance.

"The bidder (of the four companies) equally allocated a quarter of the winning bids to the other three companies and asked them to manufacture the finished products and deliver them to them," the Korea Fair Trade Commission said.

The FTC went on to say that "the winning bidder collected the finished products delivered and delivered them to KEPCO before settling related payments and costs afterwards."

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