South Korea's antitrust watchdog said Monday that it has fined two local major builders a combined 12.12 billion won (US$11.31 million) for conspiring to rig bids for large-scale public construction projects. POSCO E&C and Kolon Global were fined 8.96 billion won and 3.16 billion won, respectively, for the price-rigging charges, according to the Fair Trade Commission (FTC).