View of CJ CheilJedang headquarters (photo = CJ)

 

[Alpha Biz=(Chicago) Reporter Kim Jisun] The Fair Trade Commission has launched an on-site investigation into allegations of collusion by local sugar makers, including CJ CheilJedang, Samyangsa and Daehanjedang.

According to related industries on the 19th, the FTC sent investigators to CJ CheilJedang, Samyangsa and TS CORPORATION headquarters on the same day. The FTC is known to be looking into whether these companies with dominant market positions colluded in sugar prices.

Sugar prices have recently risen steeply, rising more than 20% for three consecutive months since late last year. A prolonged rise in sugar prices is likely to affect the price of items directly related to people's diet, such as snacks, bread and ice cream, where sugar is the main ingredients.

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