Lee praises prosecutors for major cartel crackdown

Feb 03, 2026, 08:00 am

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President Lee Jae-myung listens to participants during the “K-Startups Build the Future” strategy meeting at Cheong Wa Dae on Jan. 30. / Yonhap

Lee Jae-myung on Sunday publicly praised prosecutors for uncovering large-scale price-fixing schemes involving flour, sugar and electricity-related products.

In a post on X, Lee shared a news report detailing how prosecutors, through an intensive investigation into corporate collusion involving staple food prices and bids for power equipment, uncovered unfair cartel practices worth about 10 trillion won and indicted a total of 52 executives and employees from the companies involved.

“The prosecution has achieved a major result,” Lee wrote.

He added that he had shared the matter at a Cabinet meeting and instructed officials to pursue follow-up measures, including revising the upper limits of statutory penalties, recovering illicit gains from colluding firms, and restoring prices that had been unfairly raised.

“When something is done well, it should be recognized as such,” Lee said.

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