Korean credit card issuers Samsung Card Group and LG Card Co., Ltd. have publicly admitted to collusion with respect to the fees they paid to so-called “value added network” (VAN) companies, which process data from credit card transactions. The Korean Fair Trade Commission (KFTC) had initiated an investigation of the credit card industry after noticing that between late 2004 and early 2005 South Korean credit card issuers had systematically cut fees paid to VANs. With their admissions, Samsung and LG may now qualify for the KFTC’s antitrust Leniency Program. If applied, the Leniency Program would reduce or eliminate fines against Samsung and LG based upon the extent to which the companies cooperated with the KFTC’s investigation and supplied the agency with relevant documentation.