News / Huge fines for alleged intra-Asia shipping rate price-fixing incurs Beijing’s wrath

Credit Dreamstime.

The Chinese government has protested to its South Korean counterpart over the imposition of hefty fines on 23 liner operators allegedly involved in collective freight price-fixing.

The group comprises 12 Korean companies and a few foreign ones, including some Chinese liner operators.

During a National Assembly session on 15 July, Korean lawmaker Lee Man-hee, of the conservative People Power Party, reported that after the Korea Fair Trade Commission (KFTC) imposed the fines in June, the Chinese government sent a letter expressing disagreement.

The Korea ...