Cartel Digest

Chemical Additives (Initiators)

Chemical Additives (Initiators)
  Overall Cartel Period 2007-2013
  Participants Seki Arkema Dongsung Hichchem Kayaku Akzo Corp. PMC Biogenix Korea
  Total Fines (DOJ) No fines imposed
  Total Fines (EC) No fines imposed
In 2014, the Korea Fair Trade Commission (the “KFTC”) decided to issue a corrective order against four companies and impose a penalty surcharge of 10.4 billion won for collusion on the sale of initiators.  Initiators are peroxide used for catalyzing chemical reaction of synthetic resins.  According to the KFTC, the companies colluded on bidding and jointly increased prices to customers during the period between February 2007 and January 2013.  The KFTC decided to issue another corrective order involving hardeners at the same time against two domestic companies, one of which was allegedly involved in the initiator case.
 
Enforcement Highlights:
  • The KFTC imposed fines involving initiators totaling over ₩ 10.4 billion.
Korea
Company Fine Date
Seki Arkema ₩ 5.4 billion 11/21/2014
Dongsung Hichchem ₩ 4.3 billion 11/21/2014
Kayaku Akzo Corp. ₩ 540 million 11/21/2014
PMC Biogenix Korea No fines imposed 11/21/2014