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Photo courtesy of Yonhap News |
[Alpha Biz= Kim Eun-mi] SEOUL, April 10, 2026 — South Korean prosecutors have refiled an arrest warrant for the CEO of Daesang over alleged involvement in a large-scale price-fixing scheme in the starch and sweetener market.
According to legal sources, the Seoul Central District Prosecutors’ Office’s Fair Trade Investigation Division, led by Chief Prosecutor Na Hee-seok, resubmitted the warrant on April 9 on charges of violating the Fair Trade Act.
The Seoul Central District Court, under Judge Lee Ji-young, is scheduled to hold a pre-arrest hearing (warrant review) on April 14.
Daesang, along with Sajo CPK, Samyang Corporation, and CJ CheilJedang, is suspected of engaging in price collusion worth approximately 10 trillion won over the past eight years.
Prosecutors had previously sought arrest warrants on March 26 for three executives, including the Daesang CEO. However, the court rejected the request on March 31, citing insufficient evidence of participation in collusion. A warrant was issued only for a Daesang division head on concerns of evidence tampering and flight risk.
The prosecution is intensifying investigations into price-fixing of essential consumer goods, which directly impact household expenses. Between September last year and February this year, authorities indicted 52 individuals — including senior executives — across 16 companies in cases involving collusion in sugar, flour, and electricity pricing.
The outcome of the upcoming hearing is expected to be a key development in one of South Korea’s largest alleged cartel cases in the food industry.
Alphabiz 김은미 인턴기자(kfootle@alphabiz.co.kr)
