[Edaily Reporter kim mi-kyung ] Samyang Corporation has been fully exempted from the 210.3 billion won in fines related to the starch price-fixing cartel. In contrast, Daesang received a notice from the Fair Trade Commission requiring it to pay a fine of 234.1 billion won.

Samyang Corporation(145990)The company announced on the 31st that it had received a resolution stating it was exempt from both corrective measures and the order to pay the fine, following a decision by the Fair Trade Commission’s plenary session.

Initially, on the 7th of last month, Samyang Corporation was assessed a fine of 201.3 billion won in connection with sanctions for price-fixing among starch and starch sugar manufacturers. However, the company had yet to complete the formal procedure of receiving the final resolution. The amount of the fine Samyang Corporation was exempted from is equivalent to 11.78% of its equity as of the end of last year. It is reported that the exemption was granted under the leniency program (self-reporting).

#Daesang announced in a disclosure on the same day that it had received the Fair Trade Commission’s resolution. Daesang must pay a fine of 234.1 billion won by October 29. This amount represents 21.34% of its equity as of the end of last year.

Regarding future measures, Daesang stated, “We plan to respond in accordance with the law and procedures after receiving the FTC’s final resolution.”