SEOUL -- South Korean antitrust authorities on Tuesday slapped 96.2 billion won ($81 million) in fines on 23 domestic and foreign shipping companies including Hyundai Merchant Marine and Taiwan's Evergreen Marine for price-fixing on multiple routes between South Korea and Southeast Asia over 15 years.
The Korea Fair Trade Commission imposed the financial penalties on shippers from South Korea, Taiwan, Singapore and Hong Kong after ruling they unfairly established an agreed minimum rate to take advantage of cargo owners.
