South Korea’s Federal Trade Commission Thursday levied fines totaling 63.1 billion won ($67.3 million) against the Hyundai Automotive Group for alleged unfair internal transactions. Hyundai Motor Co. Ltd. was penalized 50.8 billion won ($54 million) for allegedly purchasing automotive parts at inflated prices from supplier-affiliate Hyundai Mobis. The FTC claims Hyundai purchased the components from Mobis at higher prices than those charged to other auto makers the company supplies. This ...
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