52 executives indicted for fixing prices of flour, sugar, electrical parts
The prosecution said Monday it has indicted 52 executives at a dozen companies since last September on charges of colluding to fix flour and sugar prices, and rigging bids for electrical components. The Seoul Central District Prosecutors Office said the indicted executives are accused of having orchestrated nearly 10 trillion won ($6.84 billion) worth of price-fixing and bid rigging, raising the prices of flour, sugar and electricity, all closely related to people's lives. In the flour sector, 20 executives of six oligopolistic producers — Daehan Flour Mills, Sajo Donga One, Samyang, Daesun Flour Mills, Samhwa Flour Mills and Hantop — were referred to trials without detention. They are suspected of disrupting market order by agreeing to determine the scope and timing of flour price fluctuations from January 2020 to October 2025, the prosecution said, estimating the value of their price-fixing at 5.99 trillion won. The price of flour rose by up to 42.4 percent during the six-year period, it added. In the sugar market, CJ CheilJedang and Samyang were caught colluding to fix their price
Feb 2, 2026By Yonhap