A PYMNTS Company

South Korea Fines German Automakers For Collusion

By  |  February 9, 2023

South Korea’s anti-trust regulator said on Thursday it would impose a combined fine of 42.3 billion won ($33.48 million) on three German automakers for colluding to curb emissions-cleaning technology for their diesel cars.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Mercedes-Benz, BMW, Volkswagen and Audi were involved in collusion that reduced competition and restricted consumer choice, the Korea Fair Trade Commission (KFTC) said in a statement.

    Related: South Korean Regulator Fines AstraZeneca and Local Firm for Collusion

    Mercedes-Benz was fined 20.7 billion won, BMW 15.7 billion won and Audi 6 billion won, the regulator said, adding that Volkswagen was not fined because it did not earn revenue relevant to the issue.

    Mercedes-Benz said the company had cooperated fully with the KFTC and “will not have to pay any fine,” citing the outcome of a similar probe by the European Commission.

    “The case related to the same set of facts which has been subject to the European Commission’s proceedings and where Mercedes-Benz acted as a leniency applicant and did not have to pay a fine,” a Mercedes-Benz spokesperson said in a statement.