“”””Sugar prices soar by 67%””””… Samyang Corporation and CJ executives arrested for ‘price fixing’

The three sugar companies that have led the domestic industry, including CJ CheilJedang, Samyang Corporation, and Daehan Jedang, are suspected of engaging in collusion worth KRW 3.2715 trillion by agreeing in advance on whether, how much, and when sugar prices will fluctuate between February 2021 and April this year. Prosecutors suspect that through this collusion, the price of sugar increased by up to 66.7% compared to before the collusion occurred.

In addition, the prosecution believes that they took profits and passed the damage on to consumers by quickly reflecting the increase in sugar prices when the price of raw sugar, the raw sugar of sugar, rose, and underreflecting the decrease in sugar prices when the price of raw sugar fell.