Politics
Korea Fines Bond Dealers Record $1.2 Billion Over Collusion
Key Points
Korea Fines Bond Dealers Record $1.2 Billion Over Collusion South Korea’s antitrust regulator imposed a record 1.63 trillion won ($1.2 billion) fine on more than a dozen domestic banks and brokerages for colluding in government bond auctions over more than three years, following a yearlong investigation. The primary dealers exchanged bid-yield information or agreed on yields and volumes in 150 Korean Treasury Bond auctions from January 2020 through June 2023, the Korea Fair Trade Commission...
Korea Fines Bond Dealers Record $1.2 Billion Over Collusion
South Korea’s antitrust regulator imposed a record 1.63 trillion won ($1.2 billion) fine on more than a dozen domestic banks and brokerages for colluding in government bond auctions over more than three years, following a yearlong investigation.
The primary dealers exchanged bid-yield information or agreed on yields and volumes in 150 Korean Treasury Bond auctions from January 2020 through June 2023, the Korea Fair Trade Commission said in a statement Wednesday. It found that the dealers reached agreements on specific bid yields or volumes in 145 auctions among them in South Korea’s roughly 1,261 trillion won ($942 billion) market.