[Alpha Biz= Paul Lee] The Korea Fair Trade Commission (KFTC) has fined 63 furniture companies a total of KRW 140 billion over two years for bid-rigging practices. On-site investigations into unfair dealer practices have also concluded, with follow-up actions planned next year.

The KFTC found that 48 companies colluded in 333 built-in and system furniture purchase bids from 2013 to 2022, prearranging winners and bid prices, resulting in fines totaling KRW 25 billion. Hanssem (009240) faced the largest penalty at KRW 27.6 billion, followed by Enex (011090) and Hyundai Livart (079430).

The KFTC has also focused on dealer abuse in the furniture industry. Seven major companies, including Fursys, Enex, Ace Bed, and Hyundai Livart, were investigated for unfair practices toward dealers. Based on inspection results and surveys, the KFTC will review violations and may conduct additional ex officio investigations next year.

 

 

 

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