Fair Trade Commission: "Ace Control and JBJ Colluded in Railway Electrical Control Device Procurement Bidding... Fine of 140 Million Won"

[Sejong=Asia Economy Reporter Joo Sang-don] The Fair Trade Commission announced on the 2nd that it has decided to impose corrective orders and a total fine of 114 million KRW on two businesses, Ace Control and JBIG, for collusion in the electric control device procurement bids conducted by the Korea Railroad Corporation.

According to the Fair Trade Commission, Ace Control and JBIG agreed in advance to win two out of four bids each in the electric control device procurement bids conducted by the Railroad Corporation in January 2018, and jointly decided the bid prices.

Accordingly, the Fair Trade Commission decided to impose fines of 57 million KRW each, totaling 114 million KRW, along with corrective orders on Ace Control and JBIG.

A Fair Trade Commission official stated, "This action swiftly detected and sanctioned collusion that occurred in the first procurement bid for electric control devices conducted by the Railroad Corporation," and added, "We plan to continuously promote activities such as distributing collusion prevention materials in cooperation with related business associations to prevent collusion in construction and goods procurement bids frequently conducted by public institutions."

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