South Korean prosecutors launched forced searches of seven petrochemical firms
on suspicion they colluded to fix prices of polyvinyl chloride (PVC),
plasticizers and other products by exploiting the Middle East war, local media
report. The Fair Trade Investigation Division of the Seoul Central District
Prosecutors' Office conducted dawn raids on the morning of the 5th at the
premises of LG Chem, Hanwha Solutions, Aekyung Chemical, OCI, Lotte Fine
Chemical, PKC and UNID on suspicion of violating the Fair Trade Act, legal
sources said.