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South Korea: Truck maker to spin off marketing business following antitrust fine

By  |  September 24, 2013
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.

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    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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