Harim in legal battle with FTC over $63.4 mil. price-fixing penalty

Harim Co., Korea's largest poultry-processing company, said Sunday that a hefty fine over alleged price-fixing stemmed from the government's supply control policy, as it continues two legal battles with the country's antitrust regulator. In 2022, Harim and its affiliate Orpum Co. filed a lawsuit seeking to overturn the Korea Fair Trade Commission (FTC)'s decision to impose a combined fine of 94.2 billion won ($63.4 million) for colluding to fix fresh chicken prices. The two companies had filed a similar lawsuit in 2021, challenging a 13 billion-won fine imposed by the FTC over other price-fixing allegations. Harim said the alleged collusion resulted from the government's supply-and-demand management policy. "As the case is currently pending in court, we cannot comment in detail," a company official said. While Harim filed an administrative lawsuit over the fine, shareholders have launched separate legal action against Harim Group Chairman Kim Hong-guk, seeking to hold him personally responsible for the alleged collusion. The legal battle comes as President Lee Jae Myung has called for toug