Two South Korean giants, corporations LG и Samsung were accused by the country's antimonopoly authorities of specifically fixing prices for certain types of household appliances. The total fine that companies will have to pay will be 38.5 million US dollars (44.6 billion won).
Prosecutors allege that in 2008-2009 the companies entered into an agreement, which resulted in fixing prices for household appliances, flat-panel TVs, and laptops. The higher price level led to the infringement of the interests of buyers. Companies that hold positions as leaders in the country's home appliance market have already been fined for such actions in the past.
Company LG voluntarily submitted information to the Fair Trade Commission, accusing some of its officials of illegal actions. Probably because of this LG will be exempted from the obligation to pay a fine. Representatives Samsung do not comment on the current situation, waiting for official notifications of the decision of the Commission.