Seoul: The antitrust regulator announced Monday that it has initiated an investigation into the Korea Egg Producers Association (KEPA) amid allegations that the group has been involved in artificially inflating egg prices.

According to Yonhap News Agency, the Fair Trade Commission (FTC) has dispatched investigators to KEPA's offices to examine the suspicions that the association coerced its member companies to comply with officially declared price guidelines, thereby affecting the egg market's pricing structure.

The farm gate price of eggs, as announced by KEPA, has experienced a significant increase of approximately 30 percent, rising from 146 won per egg in March to 190 won recently. This current price level is 6 percent higher than the same period last year and 4.2 percent above the average for this season.

If it is determined that KEPA enforced these price guidelines among its members, such actions could be deemed in violation of laws that prohibit unfair collective actions by business associations.