Life insurers fined for colluding to fix interest rates
Seoul - Yonhap
South Korea's antitrust watchdog said Friday that it has fined 12 life insurers a combined 365.3 billion won (US$316 million) for colluding to rig interest rates for years. Subject to the penalties include Samsung Life Insurance, Kyobo Life Insurance, Korea Life Insurance, Mirae Asset Life Insurance and other major companies, according to the Fair Trade Commission (FTC).
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