South Korea sues 6 petrochemical companies for bid rigging.

South Korean prosecutors indicted six petrochemical companies and 37 current and former executives and employees on charges of colluding in bidding, involving products worth about 16.4 trillion won. The companies are alleged to have coordinated the timing and extent of price changes for eight petrochemical products between January 2021 and April 2026. The companies also allegedly agreed in advance on the winning bidders and bid prices for major customers. Two former and current executives were detained and indicted, while another 35 executives and employees were indicted without detention.