Korean heavylift firms fined for collusion

Korean heavylift firms fined for collusion
Sam Chambers January 8th, 2020 https://splash247.com/korean-heavylift-firms-fined-for-collusion/

Local heavylift players in Korea have received fines for colluding in bidding for projects for the nation’s largest shipbuilder, Hyundai Heavy Industries (HHI).

Dongbang, CJ Logistics, Shebang, Global, KCTC and Korea Logistics have been fined a total of KRW6.84bn ($5.87m) for colluding to raise prices for HHI over a 14-year period.

Since 2005, HHI has been operating an open bidding process for heavylift shipments.