The Korea Fair Trade Commission (KFTC) has announced that it levied KRW15.37bn (US$14.64m) of fines on 26 cement manufacturers for cartelisation activities, according to Korea JoongAng Daily.
The KFTC stated that the manufacturers had colluded to set the prices of ready-mix concrete provided to smaller construction firms between 2009-16. As a result, the prices of the construction material have been on the rise, according to the watchdog.
The KFTC has referred the 26 companies to state prosecutors for further investigation.

Cement prices recovering in China
Cement prices in China are rebounding strongly as producers seek to improve profitability follow...