[Alpha Biz= Reporter Kim Minyoung] KH Group was caught by authorities after mobilizing affiliates to bid for the Alpensia resort.
The Fair Trade Commission said today (17th) that six companies belonging to the KH Group have detected collusion in an open bidding for the sale of Alpensia resort assets ordered by the Gangwon Development Corporation.
Along with the correction order, the FTC will impose a fine of 51.04 billion won and file a complaint with the prosecution against KH FEELUX, KH Engineering & Construction, KH Gangwon Development, KH Farming and Fishing Industry and Chairman Bae Sang-yoon.
The sale of Alpensia resort assets owned by Gangwon-do Development Corporation has been carried out in an open competitive bidding method since October 2020, but it has been auctioned off in four subsequent bids. The two private contracts in early 2021 also broke down.
KH Group plotted collusion in April 2021 after obtaining information that the scheduled price would be reduced by 30% compared to the first bid in the fifth bid.
In May of the same year, KH FEELUX set up KH Gangwon Development, a special purpose company, to win the Alpensia resort, and KH E&C agreed to set up KH REITs to participate as a bridesmaid to prevent certain delays due to failure in bidding.
Alphabiz Kim Minyoung (kimmy@alphabiz.co.kr)
