South Korea to delay action against shippers

SEOUL: South Korea’s antitrust regulator plans to put off its review of punitive measures over shippers’ alleged collusions to fix freight rates, as some foreign players have faced difficulty in doing business amid Covid-19 lockdowns in China, industry officials have said.

The Fair Trade Commission (FTC) has been investigating allegations that around 20 domestic and foreign shippers colluded to fix higher freight rates for the South Korea-China and South Korea-Japan sea routes since early 2000.