- 주제:Collusion or competition? Evaluating the firm behaviors in the Korean instant noodles industry
- Abstract: In this study, we investigate the pricing behaviors of firms in the Korean instant noodles market during the 2010s. We find empirical evidence that it is highly unlikely that the four major firms had engaged in any price-fixing activities. On the contrary, they might not even have been able to coordinate prices across their own products due to the strict price regulation set by the government. Our findings suggest that the penalties issued in 2012 by the Korea Fair Trade Commission might be improper, and hence support the Supreme Court of Korea's rejection of the antitrust price-fixing claims in 2015.