Korean Fair Trade Commission’s investigation was not notified to French GTT

According to Korean media, the Commission’s investigation is focusing on the unfair commercial practices adopted by GTT with its Korean shipbuilding partners. Indeed, the investigation concerns contracts from late last year signed with the country’s major shipbuilders including Daewoo Shipbuilding & Marine Engineering (DSME), Samsung Heavy Industries (SHI), and Hyundai Heavy Industries (HHI), major builders of the world’s LNG fleet. The Fair Trade Commission suspects that GTT, holding 90 percent of the world’s Liquefied natural gas (LNG) storage tank market, abused its market position to charge unfair prices for its patented technology.