What sanctions are the DPK and government planning for companies guilty of bid rigging or price fixing?

They plan to let authorities revoke business registrations or suspend operations of companies found guilty of collusive practices in 17 industrial sectors. The move is meant to target repeated offenders more harshly than before.

Which laws will the government and ruling party amend to crack down on collusion?

They plan to revise the Fair Trade Act and 17 relevant sector-specific laws. The changes are intended to create a new system for punishing repeated price fixing and bid rigging.

Gov't, ruling party vow harsher sanctions on companies over collusive practices

Q: How will the government monitor collusive practices in public tenders?

The plan includes linking information on large-scale public tenders commissioned by offices of education with the Fair Trade Commission’s Bid-Rigging Indicator Analysis System. Officials also said the statute of limitations for sanctions will be extended.

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Summary

The government and the ruling Democratic Party of Korea agreed Monday to pursue tougher sanctions on companies that repeatedly engage in collusive practices. They plan to allow business registrations to be revoked or operations suspended for firms found guilty of price fixing or bid rigging in 17 industrial sectors. They also plan to amend the Fair Trade Act and related sector laws, extend the statute of limitations for sanctions, and link public tender data with the Fair Trade Commission’s Bid-Rigging Indicator Analysis System.

Key Facts

The proposed system would apply to 17 industrial sectors, including safety, energy and transportation.
The government and the party plan to amend the Fair Trade Act and 17 sector-specific laws.
They will link information on large-scale public tenders commissioned by offices of education with the Fair Trade Commission’s Bid-Rigging Indicator Analysis System.
Min Byoung-dug said previously revised laws allowing punitive fines for repeated collusion will be strictly enforced.
FTC chief Ju Biung-ghi said collusion undermines the foundation of the market economy and seeks unjust profits at the expense of consumers and other economic players.

By Yonhap

Published Sep 28, 2026 11:04 am KST

Ju Biung-ghi, center, head of the Fair Trade Commission, speaks during a Democratic Party of Korea-government policy consultation meeting at the National Assembly in Seoul, Monday. Yonhap

The government and the ruling Democratic Party of Korea (DPK) agreed Monday to pursue legal amendments to strengthen sanctions against companies that repeatedly engage in collusive practices.

The ruling party and the government will introduce a system to revoke business registrations or suspend operations of companies found guilty of price fixing or bid rigging in 17 industrial sectors, Min Byoung-dug, deputy chair of the party's policy committee, told reporters after a DPK-government policy consultation meeting.

The 17 sectors include safety, energy and transportation, and the party and the government plan to amend the Fair Trade Act, as well as 17 relevant sector-specific laws, to implement the new system, Min said.

They will extend the statute of limitations for sanctions against collusive practices, while linking information on large-scale public tenders commissioned by offices of education with the Fair Trade Commission's Bid-Rigging Indicator Analysis System.

In addition, they will strictly enforce previously revised laws that allow punitive fines to be imposed for repeated collusion, Min said.

Ju Biung-ghi, head of the Fair Trade Commission, said at the meeting that collusion is a serious unfair practice that undermines the foundation of the market economy and seeks unjust profits at the expense of consumers and other economic players.

DPK policy committee chair Kwon Chil-seung also stressed that the market must be clearly warned that the cost of collusion far outweighs the gains it generates.

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