Friday, March 03, 2006

South Korea to investigate Hynix & Samsung

The Korea Times reports that South Korea's anti-trust regulator Huh Seon, Secretary General of the Fair Trade Commission, in a radio interview on Friday (3/3/06) said a probe will be launched to determine if Samsung Electronics and Hynix Semiconductor's alleged collusion on prices of memory chips in the United States had affected the domestic market.

Four Hynix executives were recently sentenced in the United States to jail terms and fined $250,000 each for their roles in price-fixing of computer memory chips in the U.S. 1999-2002.

"Price-fixing is the No. 1 enemy that undermines market principles and this applies not only to local companies but to foreign ones in Korea," Huh said. "We will not tolerate any foreign company involved in such an unfair deal."

Read The Korea Times linked here.

Hat tip to FinzToRite for the link.

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