According to CoinMeta, South Korea's anti-monopoly regulatory agency imposed fines totaling approximately $1.21 billion on 15 local financial institutions for collusive behavior in government bond auctions. The Korea Fair Trade Commission stated that it had fined 5 banks and 10 securities companies a total of 1.627 trillion Korean won. A year-long investigation revealed that these primary traders of government bonds colluded during 145 auctions from January 2020 to June 2023 by sharing information and coordinating bidding yields and volumes, thereby unfairly lowering the yields. Such behavior constituted serious violations of regulations and laws, essentially undermining the competitive bidding system and causing losses to the national treasury by restricting fair competition. Prosecutions will be initiated against 7 of these financial institutions due to their longer involvement and more frequent participation in the collusion. The institutions facing prosecution include KB Securities, NH Investment Securities, and Future Asset Securities, which are also among those that received the highest fines.