An executive at a domestic food company has been detained on suspicion of colluding to fix prices for starch and sugar.
On the 31st, Kim Jin-man, the judge responsible for arrest warrants at the Seoul Central District Court, issued an arrest warrant for Kim, head of operations at Daesang Group, on charges of violating the Fair Trade Act. The judge cited concerns about potential evidence tampering and flight risk.
However, the court denied arrest warrants for Im, the CEO of Daesang Group, and Lee, the CEO of Sajo CPK, who face the same charges.
Judge Kim said prosecutors had not presented sufficient evidence to establish Im’s participation in the collusive conduct. He also found insufficient grounds to conclude that Lee was likely to destroy evidence or flee.
Prosecutors allege the executives coordinated sales prices for starch and sugar in advance and agreed on prices during the bidding process.
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Lee Ji-hyun (ji@yna.co.kr)
