Blood bag makers fined for fixing prices for Red Cross

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Blood bag makers fined for fixing prices for Red Cross

Published: 17 Jul. 2019, 20:40

Korea’s antitrust regulator said Wednesday that it has fined two makers of blood bags a combined 7.7 billion won ($6.5 million) for colluding to fix their bidding prices for the country’s Red Cross.

GreenCross Medical Science and TaeChang Industrial fixed their bids to avoid price competition, according to the Fair Trade Commission (FTC).

The commission fined GreenCross Medical Science and TaeChang Industrial 5.8 billion won and 1.9 billion won, respectively. The commission has decided to refer GreenCross Medical Science and one of its officials to the prosecutors’ office for further investigation.

Yonhap