[Courtesy of General Motors]
Two Japanese companies have been slapped with a combined fine of 9.7 million US dollars for a price-fixing conspiracy to supply scroll-type compressors to General Motors, South Korea's anti-trust watchdog said Tuesday.
Mitsubishi Heavy Industries and Denso Corp. were involved in the price-fixing cartel targeting GM abroad, but the South's Fair Trade Commission ruled their conspiracy hurt the interests of South Korean firms and consumers.
The two Japanese firms were slapped with a fine of 11.1 billion won (9.7 million US dollars), including 7.4 billion won for Mitsubishi and 3.7 billion won for Denso. GM's subsidiary in South Korea purchased about one million Mitsubishi compressors.
The commission said the two companies were accused of colluding to fix prices when Mitsubishi won the contract in June 2009. They have been fined in the United States and Mexico for price-fixing cartels.
Aju News Lim Chang-won = cwlim34@ajunews.com
reporter
Park Sae-jin
swatchsjp@ajunews.com
