Daily Union (Monthly, Korea News Newspaper) Ju-un Journalist | The Fair Trade Commission found that four businesses, including POSCO's partner Kosteel, which manufactures and sells steel fibers used for tunnel construction, colluded with steel fiber sales prices from January 2021 to May 2022, and imposed a corrective order and penalty of 2.23 billion won.

Kosteel was fined 91400 by the Fair Trade Commission.

The price of steel fiber sales for tunnels continued to rise as four companies, including Kosteel, frequently conducted phone calls and meetings for about a year and a half to fix the case.

The unit price, which was 961 won around December 2020, rose by about 67% to 1,605 won around May 2022.

Prices of raw materials also rose about 62 percent during the same period.

However, four companies, including POSCO partner Park Jae-cheon and Kosteel, were able to raise prices significantly in a short period of time, exceeding the rate of increase in raw material prices. I’ve told you from Issue Dig Up