“Undermining Fair Competition”… CEOs of CJ CheilJedang and Samyang Corporation Bow Their Heads in Apology at National Assembly
5 Articles
5 Articles
The CEOs of CJ CheilJedang and Samyang Corporation, who were fined heavily by the Fair Trade Commission for price fixing involving sugar, flour, and starch syrup, appeared before the National Assembly for a parliamentary audit and apologized. The heads of both companies pledged to prevent a recurrence by completely rebuilding internal control systems, including overhauling service regulations. On the 7th, the National Assembly Agriculture, Food …
CJ CheilJedang CEO Kim Chan-ho and Samyang Corporation CEO Lee Woon-ik, who were at the center of controversy over price-fixing scandals involving raw materials such as sugar and flour, appeared before the National Assembly Agriculture, Food, Rural Affairs, and Fisheries Committee for a parliamentary audit on the 7th and offered apologies. During the audit, Democratic Party lawmaker Yoon Jun-byeong raised the issue of collusion in the sugar and …
CJ, Samyang CEOs Apologize Over Price Collusion
CJ CheilJedang Representative Kim Chan-ho bows his head in apology regarding unfair trade practices, including collusion, at the National Assembly’s Agriculture, Food, Rural Affairs, Oceans, and Fisheries Committee audit on Oct. 7. (Yonhap) The representatives of CJ CheilJedang and Samyang Corporation, which were sanctioned by the Fair Trade Commission for colluding on food raw material prices, appeared in person at the national audit site and a…
[Digital Daily Reporter Yoo Chae-ri] The CEOs of CJ CheilJedang and Samyang Corporation apologized for collusion in sugar, flour, and starch syrup during a parliamentary audit and promised to prevent a recurrence. As the two companies were previously sanctioned for flour collusion in 2006 and sugar collusion in 2007, and were subsequently caught again in the same product categories, they face the challenge of proving that this current promise is…
Representatives of food companies bowed their heads while attending the National Audit of the National Assembly in connection with the 10 trillion won sugar and flour price collusion.
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