Korean publishers plan joint damages suit over paper price-fixing
A coalition of South Korean publishers is organising a joint damages lawsuit against the six printing paper makers found by the Korea Fair Trade Commission to have fixed prices between February 2021 and December 2024. The KFTC set fines at KRW 338.325bn (USD 253.8m) in April, then cut the final amount to KRW 144.1bn (USD 108.1m) after leniency applications. The coalition will recruit claimants from 13 October to 15 November and file in December, putting publishers' losses at more than KRW 400bn (USD 300m).
Why this mattersCustomer-led damages claims add a second front of financial exposure for the cartel members beyond the regulatory fines and reset orders already under appeal.
- Publishing-industry coalition recruits claimants from 13 October to 15 November 2026 and plans to file a joint damages claim in December
- Publishing sector puts its own losses from the collusion at more than KRW 400bn (USD 300m)
- KFTC imposed fines of KRW 338.325bn (USD 253.8m) in April, reduced to a final KRW 144.1bn (USD 108.1m) under the leniency programme
- Hansol Paper, Moorim P&P, Moorim Paper, Moorim SP, Korea Paper and Hongwon Paper account for about 95% of domestic printing paper sales and held at least 60 meetings between February 2021 and December 2024, agreeing seven price increases
- Average printing paper prices rose about 71%, from KRW 841,000 to KRW 1,439,000 per tonne (USD 631 to USD 1,080), on sales of about KRW 4.03 trillion (USD 3.02bn)
- Seoul High Court suspended the price-reset orders for four of the six companies pending the main proceedings; Korea Paper and Hongwon Paper were referred to prosecutors