Prosecutors indict oil4refiners over price collusion... direct scale 14trillion2000billion
Prosecutors indicted HD Hyundai Oilbank, SK Energy, GS Caltex, and S-Oil on price collusion charges. The prosecution said the direct collusion scale was 14trillion2000billion won, and when the follow-on effect is added, it is about 26trillion won. The Fair Trade Commission is separately working on calculating the relevant sales amount through an administrative review.
The prosecution indicted oil4refiners on price collusion charges. This case is an issue that changes the legal and financial risks facing the oil refining industry and the progress of administrative procedures.
The prosecution, on the 6day, calculated the direct collusion scale centered on HD Hyundai Oilbank and SK Energy at 14trillion2000billion won and indicted the corporations and their employees.
The prosecution judged that, including the price-following effect of GS Caltex and S-Oil, the anti-competitive effect reaches about 26trillion won. The indictment states that the timing and extent of price increases were coordinated at the time of the U.S.-Iran war.
The prosecution also included in the indictment signs of a contract to purchase all fuel from self-operated gas stations, operation of a post-settlement system, and deletion of data before the Fair Trade Commission's on-site inspection.
Separately, the Fair Trade Commission is reviewing related products, the period of violation, the type of transaction, and the scope of violations by each collusive act again as it works to calculate the relevant sales amount.
Based on the relevant sales amount, the Fair Trade Commission comprehensively reviews the seriousness of the violation and the applicable rate to decide whether to impose a fine and its size. The investigation and administrative review are still under way.
Sources: 뉴시스 경제
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