(MENAFN) South Korean antitrust regulator said it has levied a total of 10.8 billion won in fines on 14 aerial imaging companies for allegedly rigging bids for mapping projects.
According to the Fair Trade Commission (FTC), the companies are accused of conspiring to win 37 bids placed by the National Geographic Information Institute (NGII) to take aerial shots, which were used to make maps.
The FTC said they agreed to split the bids and help each other win their respective contracts, with others supposedly taking part in the process with the aim of keeping bid prices within a set range.
The regulator of the corporate said it referred 11 of the 14 companies to state prosecutors for further investigation.
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