Tridge summary
The Incheon Fisheries Export-Import Association in South Korea has been fined KRW 115 million by the Fair Trade Commission for setting the wholesale price of imported fresh octopus, primarily sourced from China, from December 2017 to February 2020. The association imposed a minimum price increase of KRW 1,000 per kilogram when selling to retailers, resulting in higher prices for consumers. The association has been ordered to correct the violation and cease the illegal pricing practice for a certain period of time.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Fixed the price of fresh octopus made in China. Incheon Fisheries Export-Import Association fine. The Fair Trade Commission imposed a corrective order and a penalty of KRW 115 million to the Incheon Fisheries Export-Import Association, which arbitrarily set the wholesale price of imported fresh octopus and stopped importing itself for a certain period of time. According to the Fair Trade Commission, the association determined the wholesale price of fresh octopus to supply to distributors from December 2017 to February 2020, and made them sell at least KRW 1,000 more per kilogram when sold to retailers. The FTC explained that ...
Source: Yonhapnewstv
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