South Korea has joined the investigation into the world’s largest container manufacturers, increasing regulatory pressure on companies already under investigation in the United States. The probe targets Singamas, China International Marine Containers (CIMC), Dong Fang International Containers, and CXIC—companies that collectively account for nearly 95% of global production of standard dry freight containers.
The Korea Fair Trade Commission (KFTC) suspects the companies of restricting production and manipulating container supply between 2019 and 2024, potentially leading to artificially inflated prices.
The investigation follows a case launched by the U.S. Department of Justice, which alleges that the manufacturers may have entered into a price-fixing agreement before the COVID-19 pandemic. According to U.S. authorities, the alleged cartel caused an estimated $35 billion in damage to global trade.
The U.S. investigation has already triggered the first civil lawsuits. Despite the growing legal pressure, Singamas and CIMC stated that they will continue operating as usual while fully cooperating with the ongoing investigations.
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