S. Korea Fines Hyundai, Others $104M In Price-Fixing Probe

Law360, New York (July 29, 2013, 4:34 PM EDT) -- South Korea's antitrust agency hit Hyundai Motor Co. and six foreign-vehicle importers and distributors with penalties totaling 116 billion won ($104.3 million) for allegedly colluding to fix the prices of trucks, tractors and other commercial vehicles, according to an announcement Monday.

Hyundai, South Korea's top domestic manufacturer of sedans and commercial vehicles, was slapped with the largest of the fines, 71.7 billion won, after company representatives allegedly held regular meetings with rivals and shared information to manipulate prices, the Korea Herald reported. 

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