[REVISION HISTORY]

South Korea collusion and bid rigging regulation

Updated 1 time since CLSTR started tracking revisions of this situation.

What changed

2026-09-28 02:40 UTC → 2026-09-28 04:49 UTC · added ~~removed~~

The Korea Fair Trade Commission (KFTC) initially proposed tightening restrictions on companies involved in repeated bid rigging for public contracts. The proposal aimed to extend the assessment period for collusion from five to ten years and lower the penalty point threshold for bidding eligibility restrictions. Under these guidelines, penalty points from various types of collusion would be aggregated to trigger restrictions. Following this, the South Korean government and the Democratic Party announced broader legislative plans to strengthen sanctions against repeat collusion across 17 key sectors, such as pharmaceuticals, petroleum, and transportation. These measures include potential registration cancellations or business suspensions for companies colluding twice or more within five years. The expanded plan seeks to amend the Monopoly Regulation and Fair Trade Act and 17 individual laws, extending the statute of limitations for investigations to 15 years and establishing a legal basis for “price resetting orders” to correct market distortions. Further developments in the legislative plan include enhancing monitoring within the education sector by integrating local education office bidding data into the KFTC’s BRIAS system. While leniency regarding fines and prosecution will still be available for companies that self-report, the proposal clarifies that such companies will no longer be exempt from corrective measures, such as price resetting orders.

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