South Korea: Truck maker to spin off marketing business following antitrust fine
Two months after antitrust regulators ordered truck maker Scania Korea Ltd. to pay $16 million in fines, the company announced plans to spin off its marketing and wholesale business, say reports.
The company, which is the South Korean unit of the Sweden-based Scania, said Tuesday the business separation will make operations more efficient.
South Korea’s Fair Trade Commission issued a fine to the company for price-fixing. Regulators found the company to have colluded with rivals to manipulate prices of auto parts, say reports.
One anonymous source said the spin-off will likely be completed early next year.
Full Content: Global Post
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