How much has South Korea fined companies for price-fixing this year, and what price changes followed?

Prime Minister Han Seong-sook said the government imposed more than 1.8 trillion won ($1.3 billion) in administrative fines this year for collusion involving sugar, eggs, flour and starch sugars. She said prices for those items fell by as much as 26.5 percent after the penalties.

Why did Prime Minister Han Seong-sook say the government must act against price-fixing?

Han said stabilizing prices is an important government responsibility. She said collusion had placed a heavy burden on people’s dining tables, and pledged to protect consumers from price-fixing.

What measures did Han Seong-sook promise to prevent companies from profiting through collusion?

Han pledged to root out price-fixing and strengthen economic sanctions so companies could not gain further profit through collusion.

PM pledges to root out price-fixing practices

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Summary

Prime Minister Han Seong-sook pledged Wednesday to root out price-fixing in South Korea, citing more than 1.8 trillion won in administrative fines imposed on colluding companies this year. In a post on X, she said stabilizing prices is a government responsibility and promised stronger economic sanctions. Han said penalties over collusion involving sugar, eggs, flour and starch sugars led to price drops of up to 26.5 percent.

Key Facts

The fines imposed this year were equivalent to $1.3 billion.
Han said the penalties led to price drops for sugar, eggs, flour and starch sugars.
Han said companies had placed a heavy burden on people’s dining tables through collusion.

By Yonhap

Published Nov 4, 2026 3:19 pm KST

Prime Minister Han Seong-sook speaks during a parliamentary budget committee meeting at the National Assembly in Seoul, Wednesday. Yonhap

Prime Minister Han Seong-sook pledged Wednesday to root out price-fixing practices, saying the government has imposed more than 1.8 trillion won ($1.3 billion) in administrative fines this year alone on companies involved in collusion.

Han made the remark in a post on X, saying stabilizing prices is an important responsibility of the government.

"We will firmly safeguard the people's dining tables from price-fixing," she said.

Noting the amount of administrative fines imposed this year for price-fixing of sugar, eggs, flour and starch sugars, Han said the penalties led to price drops of up to 26.5 percent for those items.

"This means that companies had been placing a heavy burden on the people's dining tables," she said, promising to root out such collusion.

"We will strengthen economic sanctions to ensure that no further profit can be gained through collusion."

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