Samsung Fire Acquitted in Criminal Case for Insurance Contract Bid-Rigging

Lee & Ko successfully secured an acquittal for Samsung Fire & Marine Insurance (“Samsung Fire”), following the company being indicted for bid-rigging in insurance contracts tendered by the Korea Land and Housing Corporation (“LH”).

In 2024, the Korea Fair Trade Commission (“KFTC”) imposed an administrative fine against Samsung Fire and issued a criminal referral to the Prosecutor’s Office for colluding with other insurance companies in the bidding process for fire insurance on LH rental homes. As some companies filed leniency applications for their involvement in the collusion, refuting those statements and related evidence became a key issue in the case.

Lee & Ko represented Samsung Fire from the KFTC’s investigation stage and, during the trial, persuaded the court through multifaceted and thorough legal arguments, including newly raised issues regarding the admissibility of evidence in addition to the existing legal points. Through in-depth witness examinations, Lee & Ko explained the context of the insurance bidding and Samsung Fire's position, thereby refuting the charges in detail. In particular, Lee & Ko elicited several testimonies during the trial denying the existence of collusion, and challenged the credibility of statements acknowledging collusion, including those from companies that submitted leniency applications. As a result, the court, in accepting Lee & Ko’s arguments, determined that the evidence was insufficient to establish collusion and acquitted Samsung Fire of all charges.

The court’s decision in acquitting Samsung Fire despite other companies filing leniency applications demonstrates Lee & Ko’s outstanding expertise and capabilities in antitrust criminal defense. This decision is expected to set an important precedent for future criminal bid-rigging cases that involve leniency applications.