Hansol Paper Apologizes for Price-Fixing, Vows to Build Monitoring System

Hansol Paper has issued a formal apology following the Fair Trade Commission's (FTC) ruling on its involvement in price-fixing for printing paper.

In a statement released Tuesday, Hansol Paper said, "We deeply apologize for causing concern to our customers and consumers," adding, "We take this matter very seriously and will ensure that similar cases do not occur again." The company also pledged to "devise and swiftly implement fundamental measures to prevent recurrence."

Hansol Paper plans to overhaul its compliance control procedures governing product pricing decisions in order to foster a fair trading environment. The company also intends to establish a continuous monitoring system for abnormal transactions to preempt any potential unfair trade practices. In addition, it will strengthen fair trade law training for all employees to fundamentally raise the company's compliance standards.

"We are taking this matter very seriously," a Hansol Paper official said. "We will swiftly implement measures to prevent recurrence and continue managing the business with the trust of our customers and consumers as our top priority."