Cable suppliers involved in price-fixing pay high dividends to shareholders
It turns out the cable manufacturers that colluded to supply cables used in nuclear reactors at high prices have been paying extra juicy dividends to their shareholders.
According to online market researcher Chaebul-dot-com, the eight cable suppliers, including LS, LS Cable & System and Taihan Electric Wire, paid a combined 77-billion won,.. or roughly 72-million U.S. dollars in dividend payments over the past five years.
It also found the firms spent 13 million dollars on so-called 'entertainment' expenses for their clients.
Earlier this month, the Fair Trade Commission fined the eight companies based on how much each had gained unfairly through price fixing.
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