South Korea's Fair Trade Commission has declared three car components producing
units guilty of price fixing of parts being sold to Hyundai Motor Co. A fine of
114.6 billion won ($108 million) had been imposed by the commission.
The ruling of the tribunal comes in the
midst of antitrust regulators across U.S, E.U and Japan cracking down on price fixing
among auto parts makers. Manufacturing units of Denso, Continental and Bosch
had been slapped fines of 63, 46 and 4.5 billion won respectively for colluding
on prices of instrument panels (installed on 11 million Hyundai vehicles) and
officials are not reachable for comments.