South Korea's POSCO, its affiliate POSCO Coated & Color Steel Co Ltd, Hyundai Hysco Co Ltd and four other steel makers have been fined a combined 291.7 billion won ($273.5 million) for fixing prices for years in three product categories, the state anti-trust watchdog said on Sunday.

The Fair Trade Commission (FTC) said the companies also includeded Dongbu Steel Co Ltd, Union Steel, SeAH Steel Corp and Seil Steel Co Ltd. It said they colluded to rig increases in the price of cold-rolled steel plates, galvanised steel plates or colour steel sheets in the domestic market between 2004 and 2010.

Copyright Reuters, 2012