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| ▲ This undated file photo shows flour products displayed at a supermarket in Seoul. (Yonhap) |
flour industry-collusion case
Board of flour industry association resigns over alleged price-fixing scandal
SEOUL, March 5 (Yonhap) -- The entire board of the Korea Flour Milling Industry Association resigned Thursday over an alleged price-fixing scandal involving major domestic producers, the association said.
The association said it held a general meeting and decided that the heads of all seven member companies will step down from the association's board to take responsibility over the allegation.
"We deeply apologize for causing great disappointment and concern to the public," the association said in a statement. Association members include CJ Cheiljedang Corp., Daehan Flour Mills Co. and Sajo Dongaone Co.
The companies have faced an investigation by the Fair Trade Commission (FTC) for allegedly colluding to fix flour prices between November 2019 and October of last year. The FTC is currently reviewing penalty measures against the companies.
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