South Korea’s antitrust watchdog said that it has slapped a combined 1.78 billion-won ($1.57 million) fine on Mercedes-Benz Korea and its dealerships for fixing labor costs for auto repairs.
Mercedes-Benz Korea, the local unit and importer of German carmaker Daimler AG, allegedly suggested to eight dealerships fixing rates for labor costs in January 2009 to improve its balance sheet, according to the Fair Trade Commission.
A few months later, the dealers, including Hansung Motor Co. and Class Hyosung, raised the rate and set the same prices for their repair services.
All eight companies set the same 58,000 won per hour (US$50.62 per hour) for general repair work and 55,000 (US$50) for maintenance services.
The FTC imposed a 1.32 billion-won (US$1.2 million) fine on Mercedes-Benz Korea and a combined 468 million won (US$408,466) on the eight dealerships.
Full Content: The Investor
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
UK Probes Lindab’s Acquisition of HAS-Vent Amid Fears of Market Monopoly
Apr 28, 2024 by
CPI
Shein Faces EU Regulations Over User Data
Apr 28, 2024 by
CPI
Google Fights Back Against US Antitrust Lawsuit
Apr 28, 2024 by
CPI
US Homeland Security Establishes Blue-Ribbon Board with Tech CEOs to Advise on AI
Apr 28, 2024 by
CPI
FTC Accuses Amazon Executives of Using Disappearing Messaging Apps to Conceal Evidence
Apr 28, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI