Korea Fines Six Paper Companies 3.009 Billion Won for Nongmin Newspaper Auction Collusion

The Korea Fair Trade Commission (KFTC) has imposed corrective measures and a combined penalty of 3.009 billion Korean won on six paper companies for colluding in six printing paper procurement auctions conducted by Nongmin Newspaper Co., Ltd. between 2021 and 2024.

The KFTC said the companies prearranged winning bidders and bid prices to limit competition and prevent low-price bids. The agreements were reached through meetings or phone calls before the auctions, according to the commission.

The six companies allegedly coordinated their bids in auctions held from June 2021 to November 2024, seeking to keep winning prices above a certain level. During the collusion period, the companies recorded an average winning rate of approximately 96.2%, with the rate reaching as high as 99.4%. This compared with an average winning rate of 87.6% during the non-collusion period from 2018 to 2020.

The KFTC said Hansol Paper and Hankuk Paper will also face corporate criminal complaints to the prosecution.

The case marks the second time the KFTC has sanctioned the same six businesses for collusion involving printing paper. In April 2026, the commission announced sanctions over a separate price-fixing scheme in the printing paper market.

At the time, the KFTC said the six companies accounted for 95% of the domestic printing paper market and had colluded seven times over approximately four years beginning in February 2021, during which paper prices rose 71%. The commission imposed a total penalty of 338.3 billion Korean won and ordered a “price re-determination” aimed at returning prices to pre-collusion levels.