KFTC Fines BMW, Lexus Dealers For Price-Fixing

Law360, New York (October 16, 2008, 12:00 AM EDT) -- South Korea's competition watchdog has reportedly fined dealers of imported Lexus and BMW AG cars for colluding on prices of the luxury vehicles.

The country's Fair Trade Commission said seven BMW dealers conspired in September 2004 to sell the German-made sedans at predetermined prices, while nine Lexus dealers allegedly colluded in April 2006, according to a Dow Jones report Wednesday.

The antitrust regulator said it would impose total fines of $17 million on the dealers for breaching South Korea's unfair trade practices laws, the report said....
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