Asian companies are the hardest hit by fines for breaking antitrust law in the US, a new Korean report has found.
Fines imposed on Asian companies by the US increased from $428m between 1995 and 2004 to $5.1bn between 2005 and September of 2014 – or 77 per cent of all fines for such offences – according to a report published on Monday by the Korea Chamber of Commerce & Industry.
One of the report’s authors says Asian companies are falling foul of “cultural” differences with the US, where what they regard as cooperation is often seen as collusion.
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