General

Recently, at the National Assembly meeting in South Korea, legislator Lee Man-hee reported that after the Korean Fair Trade Commission (KFTC) imposed a fine in June, the Chinese government sent a letter expressing different opinions.

The Chinese government protested to the South Korean government, demanding that 23 liner operators suspected of participating in collective freight pricing be imposed huge fines! The group consists of 12 Korean companies and some foreign companies, including some Chinese liner operators.

The Korea Shipowners’ Association and the Korea Shipping Association expressed their opposition to the penalties imposed for suspected fixed freight on the Korea-Southeast Asia route from 2003 to 2018.

KFTC said: Operators may pay a fine equivalent to 8.5%-10% of service revenue;

The total amount of fines has not yet been disclosed. However, it was revealed that the 12 South Korean liner operators will face a fine of approximately US$440 million.