SEOUL : 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 rig emissions of its diesel cars using software.Mercedes-Benz, BMW, Volkswagen and Audi were involved in collusion that reduced compe
SEOUL : South Korea's anti-trust regulator said on Thursday it would impose a combined fine of 42.3 billion won on three German automakers for colluding to rig emissions of its diesel cars using software.
Mercedes-Benz, BMW, Volkswagen and Audi were involved in collusion that reduced competition and restricted consumer choice, the Korea Fair Trade Commission said in a statement. 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.Last year, Mercedes-Benz and its Korean unit were fined 20.2 billion won for false advertising tied to gas emissions of diesel passenger vehicles.
The European Commission in 2021 fined Volkswagen and BMW a total of 875 million euros for colluding to curb the use of emissions cleaning technology they had developed.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
North Korean balloon briefly spotted over South Korea, Seoul saysThe craft left South Korean airspace a few hours later and officials believe it was a weather balloon not one intended for spying activities, Yonhap news agency reported, citing an unnamed official.
Read more »
North Korean balloon briefly spotted over South Korea, Seoul saysSEOUL — South Korea's military said on Monday (Feb 6) it had tracked a North Korean balloon over its territory, but determined it did not pose a threat. The balloon briefly entered South Korean airspace on Sunday, the Ministry of Defence said in a statement, adding it in response had taken unspecified “measures”. The craft left South Korean airspace a...
Read more »
South Korea's Kakao Corp to buy 9.05% stake in SM Entertainment, touts K-pop projectsSEOUL : South Korea's Kakao Corp said on Tuesday it will acquire a 9.05 per cent stake in SM Entertainment, an entertainment agency behind K-pop acts including NCT and Aespa, in a deal worth 217.2 billion won ($172.8 million). The two will team up to pursue joint management projects together including glo
Read more »
South Korea jails man for 40 years in high-profile stalking, murder caseThe case prompted calls for legal reform. Read more at straitstimes.com.
Read more »
South Korea jails man for 40 years in high-profile stalking, murder caseSEOUL: A South Korean court sentenced a man to 40 years in prison on Tuesday (Feb 7) for murdering a woman he had stalked for years, in a high-profile case that prompted calls for legal reform. Seoul's Central District Court found 31-year-old Jeon Joo-hwan guilty of killing a former colleague in revenge af
Read more »
South Korea court orders first compensation for Vietnam War victimSEOUL — A South Korean court ordered the government on Tuesday (Feb 7) to compensate a Vietnamese victim of atrocities during the Vietnam War in the 1970s, when about 300,000 South Korean troops fought alongside US forces. The ruling marked the first legal acknowledgement of South Korea's liability for atrocities during the war and could potentially pave the way for...
Read more »