KFTC Probes Foreign Car Cos. For Jacking Up Prices

Law360, New York (December 14, 2007, 12:00 AM EST) -- The Korean Fair Trade Commission raided the offices of four automobile companies on Wednesday, investigating them for their part in an alleged anti-competitive scheme to drive car costs higher in South Korea.

The officials probed the four import branches of foreign car makers Mercedes-Benz AG, BMW AG, Toyota Motor Corp.'s Lexus subsidiary and Volkswagen AG's Audi subsidiary, as well as the Korea Automobile Imports & Distributors Association (Kaida), a spokesperson for Kaida said.

Investigators searched computers and documents for evidence of the four companies colluding against...
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