Arrest Warrants Dismissed for Current and Former Executives of Flour Companies in 'Price-Fixing' Case

The CEOs and other company officials of flour milling companies, who had been subject to arrest warrants on charges of price-fixing, have avoided detention.

On January 24, Nam Sejin, the presiding judge in charge of warrants at the Seoul Central District Court, dismissed arrest warrants for four current and former executives, including the CEOs of Daehan Flour Mills and Sajo DongA One, who are accused of violating the Fair Trade Act.

Judge Nam explained the decision by stating, "The suspects have acknowledged the charges and the facts, and have faithfully responded to summons and investigations by the authorities. Most of the evidence appears to have been collected. Considering their stable residences, family relationships, career backgrounds, and social ties, there is little risk of flight or evidence destruction."

He added, "Given the progress of the investigation, detaining the suspects at this stage would excessively restrict their right to defense, which was also taken into account."

The individuals who avoided detention this time are accused of colluding to fix flour prices over several years.

Previously, prosecutors conducted raids on Daehan Flour Mills, Sajo DongA One, and CJ CheilJedang last month on suspicion that, over several years, they engaged in advance consultations to raise flour prices or adjust shipment volumes as part of their alleged collusion.

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