SEOUL, October 16 (AJP) - South Korea’s antitrust regulator has launched an investigation into seven major flour producers, including Daehan Flour Mills and CJ CheilJedang, over allegations of price fixing and other unfair market practices.
The Korea Fair Trade Commission (KFTC) is examining whether the companies colluded to set flour prices or coordinated shipment volumes, actions that could have distorted competition and inflated costs for consumers.
The probe comes amid broader government scrutiny of rising food prices and corporate practices in essential goods markets. During a Cabinet meeting on Sept. 30, President Lee Jae Myung called for stronger enforcement against unfair business conduct, urging regulators to “respond swiftly and firmly to anti-competitive behavior that harms consumers.”
KFTC Chairman Joo Byung-ki said the commission is closely monitoring potential collusion in key raw materials, including flour, sugar, and eggs. The investigation has since widened to include companies such as Samyang Foods, which, along with CJ CheilJedang, is being reviewed for possible coordination in pricing or supply adjustments.
* This article, published by Aju Business Daily, was translated by AI and edited by AJP.
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