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Spain: Hyunda, Kia fined for alleged collusion

By  |  August 2, 2015

South Korea’s top automaker Hyundai Motor and its smaller affiliate Kia Motors Corp. have been fined by Spain’s antitrust watchdog for their alleged collusion with other global players, industry sources said Sunday.

The Spanish watchdog recently slapped a combined fine of 171 million euros on 20 global automakers, including Hyundai and Kia, for alleged collusion over the “exchange of sensitive information on the Spanish car market,” according to the sources.

A Hyundai Motor official said the company didn’t exchange any sensitive information with other carmakers, only already disclosed information and sales records.

The development comes after it was known last week that Hyundai had been hit with a 76.6 billion-won fine by India’s antitrust watchdog for alleged unfair practices.

Full content: The Korea Observer

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