'Daeyoung General Machinery and Bowon Engineering' Supporting 'KEPCO Bidding'... Fair Trade Commission Corrective Order and Fine

[Sejong=Asia Economy Reporter Joo Sang-don] Daeyoung General Industrial and Bowon Engineering, who colluded on the winning bidder, cover bidders, and bid prices in the tender for partial discharge diagnosis services of ground circuit breakers conducted by Korea Electric Power Corporation (KEPCO), were caught by the Fair Trade Commission.

On the 10th, the Fair Trade Commission announced that it imposed corrective orders and a total fine of 88 million KRW on Daeyoung General Industrial and Bowon Engineering.

According to the Fair Trade Commission, from February 2014 to February 2017, Daeyoung General Industrial and Bowon Engineering agreed in advance on the winning bidder, cover bidders, and bid prices in a total of 59 tenders for partial discharge diagnosis services of ground circuit breakers conducted by KEPCO, and executed these agreements.

Through collusion, out of the 59 tenders, Daeyoung General Industrial won 55, and Bowon Engineering won 4 tenders for the purpose of cover participation compensation and securing business performance records.

A Fair Trade Commission official stated, "The significance lies in detecting and sanctioning the collusion between the two businesses that was secretly maintained over a long period," adding, "The Fair Trade Commission will continue to strengthen monitoring of collusion in industries closely related to the public’s life and safety, and will persistently promote efforts to stimulate competition through handling such cases."

This content was produced with the assistance of AI translation services.