Fears grow over China’s response to Korea’s looming fines for shipping firms

By Park Jae-hyuk China has warned of potential retaliation against the Korea Fair Trade Commission’s attempt to fine shipping companies, including dozens of Chinese firms, for their alleged collusion to fix the freight rates for sea routes between the two countries over more than a decade. According to industry officials, on Monday, South Korea’s antitrust watchdog sent its review report on March 25 to around 20 shipping companies from South Korea, China and Japan to tell them of its plan to…

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