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E1 Corp Indicted for LPG Price-Fixing

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공표년도

창작년도

2011-02-10

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Prosecutors have indicted E1 Corporation‚ which supplies liquified petroleum gas‚ or LPG‚ for allegedly colluding to fix prices with two other companies.
The Seoul Central District Prosecutors Office and the Fair Trade Commission said on Thursday that E1 is suspected of overcharging for LPG‚ together with SK Gas and SK Energy from 2003 to 2008.
E1's profits more than quadrupled during that period to 55-and-half billion won or about 49 million US dollars while SK Gas saw similar figures.
Their average margin on LPG roughly tripled since 2003‚ while their average prices for propane differed by only a fraction of a single won.
A prosecution official said that large corporations that fixed prices while people on the margins of society had to do without gas deserved to be strongly punished.
Reporter : devin@arirang.co.kr

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https://www.kf.or.kr

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