South Korea said on Thursday it will impose a penalty on all its domestic oil refiners after finding they colluded in managing gasoline stations to avoid competition that may have led to lower retail fuel prices. SK Energy, fully owned by SK Innovation, GS Caltex, S-Oil and Hyundai Oilbank must pay a total of 434.8 billion won ($394.7 million), the country's Fair Trade Commission (FTC) said, but three of the refiners denied the charges.
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