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Photo courtesy of Yonhap News |
[Alpha Biz= Paul Lee] Hantop has been fined by the Fair Trade Commission for its involvement in a flour price-fixing and supply cartel.
The company disclosed on May 20 that it received a penalty of KRW 24.29 billion for colluding on flour supply prices and volumes. This amount equals approximately 51.33% of its total equity of KRW 47.32 billion as of the end of 2025, highlighting the significant financial burden.
According to the regulator, Hantop participated in coordinated actions with other millers to fix prices and control supply as part of a broader industry-wide cartel.
Hantop stated it will review the final decision notice and respond in accordance with applicable legal procedures. The disclosed fine is based on the regulator’s press release and may change once the official resolution and notification are finalized.
The company plans to re-disclose details such as the confirmed penalty amount and payment schedule after receiving the final ruling.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
https://www.alphabiz.co.kr/news/view/1065539303363676
This article is based on global economic content from Alphabiz, which distributes English-language news on Korean markets and companies to international audiences.
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