▲ President Lee Jae Myung speaks during a Cabinet meeting held at Cheong Wa Dae in Seoul on Jan. 27, 2026. (Pool photo) (Yonhap)

Lee-prosecution

Lee hails prosecution for indicting executives on charges of price fixing

By Kim Eun-jung

SEOUL, Feb. 2 (Yonhap) -- President Lee Jae Myung on Monday hailed the prosecution for indicting 52 executives on charges of price fixing involving daily necessities, such as flour, sugar and electricity.

Lee shared a link to a news report on the social platform X that detailed the prosecution's indictment of milling companies, sugar producers and bidders linked to the state-run Korea Electric Power Corp. between September and January in cases involving contracts worth about a combined 10 trillion won (US$6.8 billion).

"Prosecutors achieved significant results," Lee wrote on X, noting that he instructed the prosecution to share the investigation results at the upcoming Cabinet meeting.

The remarks marked a rare public compliment from Lee, who has previously criticized the prosecution over past investigations involving him and the handling of other cases.

Lee also said he instructed the government to consider measures to strengthen regulations on price fixing, including raising legal penalties, confiscating illicit profits and restoring prices that were unfairly increased.

Prosecutors launched the price-fixing investigation after Lee ordered the government to take a more active response to rising prices of everyday goods during a Cabinet meeting in September last year.

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