Arrest Warrants Sought for 8 Petrochemical Executives over Alleged Price Fixing
4 Articles
4 Articles
Arrest warrants sought for 8 petrochemical executives over alleged price fixing
Prosecutors on Monday requested arrest warrants for eight current and former executives of domestic petrochemical companies suspected of engaging in price fixing involving several trillion won. The eight include Kim Yoo-shin, chief executive officer (CEO) of OCI, and Jang Young-soo, former CEO of PKC, according to the Seoul Central District Prosecutors Office. Prosecutors suspect that seven companies — LG Chem, Hanwha Solutions, Aekyung Chemical…
The Seoul Central District Prosecutors' Office has requested arrest warrants for eight executives from seven companies, including OCI and PKC, suspected of price-fixing for petrochemical products worth trillions of won. The prosecution is investigating after detecting indications that they colluded on PVC prices in advance by exploiting the instability in naphtha supply.
(Seoul = Yonhap News) Reporter Choi Yoon-sun = The prosecution is moving to secure the custody of former and current executives of a domestic petrochemical company suspected of collusion worth trillions of won.
The prosecution has requested arrest warrants for eight people, including executives of major companies, suspected of colluding on the prices of petrochemical products worth trillions of won, taking advantage of the instability in the supply of raw materials caused by the Middle East war.
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