Korea's fair trade watchdog on Tuesday decided to impose a record 747.6 billion-won ($488.7 million) fine on four starch producers for colluding to fix prices. The Fair Trade Commission (FTC) said it made the decision after finding that Daesang Corp., Sajo CPK Ltd., Samyang Corp. and CJ CheilJedang Corp. fixed prices of starch and starch sugars from May 2018 to October 2025, noting the fine marks the largest amount for a single price-rigging case. Starch and starch sugar products are used in the production of foodstuffs, such as confectionery, bread, noodles, beverages and beer. They are also used in the manufacturing sector, including the production of paper and steel. "Thus, a hike in starch prices leads to chain effects across all levels of industry," the FTC said, noting the combined volume of related sales was estimated at 6.05 trillion won. According to the watchdog, the companies' executive-level officials reached an overall consensus, with other details, such as price targets and timing, discussed through follow-up working-level meetings. The FTC also ordered the companies to rese