1. Home
  2. |Insights
  3. |South Korea Fines Rubber Companies $6 Million

South Korea Fines Rubber Companies $6 Million

Client Alert | less than 1 min read | 04.12.07

The South Korea Fair Trade Commission has imposed a $6 million fine on two synthetic rubber companies for alleged price collusion. The Commission said that Kumho Petrochemical and Seetec Ltd. colluded to raise the prices of synthetic rubber used to make tires. The two companies supply 91% of the country’s total demand for synthetic rubber and hiked prices by 12%-18% four times over a three year period ending in March 2003. 

Insights

Client Alert | 4 min read | 05.11.26

New Temporary State Aid Framework Throws A Lifeline To Sectors Hit By The Middle East Crisis

On 29 April 2026, the European Commission adopted the Middle East Crisis Temporary State Aid Framework (METSAF), a temporary framework relaxing the conditions under which EU Member States can support companies in sectors particularly affected by fuel, fertilizer, and electricity price surges driven by the Middle East crisis....