China's IT Home: Montariko's South Korea office searched over potential antitrust violations

Chinese technology firm Montariko (瀾起科技) announced on Monday, July 15, that its South Korean office underwent a search and seizure by the Seoul Central District Prosecutors' Office. The investigation is related to potential violations of antitrust regulations.

The company stated that it is fully cooperating with the prosecutors' investigation requests. According to a local Korean news outlet, prosecutors also searched offices of Japan's Renesas Electronics and the US's Rambus in South Korea related to similar alleged violations of the Fair Trade Act. These companies' main customers are memory chip makers such as Samsung Electronics and SK Hynix.

During the search and seizure, prosecutors reportedly confiscated a mobile phone belonging to a company executive. Based on an analysis of the seized materials, prosecutors are expected to investigate whether information was exchanged between companies, the timeline and scope of any collusion, and the impact on actual delivery prices.

Montariko clarified that neither the company nor its directors or employees have been accused of any wrongdoing. The company's operations are normal, and it remains focused on product development and serving its customers.