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THE INVESTOR] Korea’s antitrust watchdog said on Sept. 26 that it has slapped a combined 1.78 billion-won (US$1.57 million) fine on Mercedes-Benz Korea and its dealerships.
Mercedes-Benz Korea, the local unit and importer of the German, 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 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 for general repair work and 55,000 won for maintenance services.
The FTC imposed a 1.32 billion-won fine on Mercedes-Benz Korea and a combined 468 million won on the eight dealerships.
By Alex Lee and newswires (
alexlee@heraldcorp.com)