Arab Today, arab today 12 builders fined for collusion in bid for rail project
Last Updated : GMT 04:44:27
Arab Today, arab today
Arab Today, arab today

12 builders fined for collusion in bid for rail project

Arab Today, arab today

Arab Today, arab today 12 builders fined for collusion in bid for rail project

Seoul - Yonhap

South Korea's antitrust watchdog said Monday that it has fined 12 construction firms a combined 40.2 billion won (US$37.2 million) for collusion in the bidding process for a large-scale metropolitan railway construction project. Those subject to the fine include big name builders such as Hyundai Engineering & Construction Co., Daelim Industrial Co., Samsung C&T Corp., POSCO Engineering & Construction Co., SK Engineering & Construction Co. and GS Engineering & Construction Co., according to the Fair Trade Commission (FTC).

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