News / Liner operators fined $64m for fixing South Korea-Japan freight rates

Korea Fair Trade Commission. Credit Minseong Kim.

Fifteen liner operators have been fined a total of $64m by the Korea Fair Trade Commission (KFTC) for colluding to fix South Korea-Japan freight rates.

KFTC handed down its decision on 9 June, after a two-month probe that focused on the liner operators’ actions between February 2003 and May 2019.

Those penalised included: Heung-A Line, fined $12.5m; KMTC Line, fined $11.6m; Sinokor Merchant Marine, fined $9.6m; HMM was fined $39,060 and SM Line was fined $86,888.

The penalty comes five months after 23 ...