Cartel Digest

Large Commercial Cargo Vehicles

Large Commercial Cargo Vehicles
  Overall Cartel Period 2002-2011
  Participants Hyundai Motor Company, Tata Daewoo Commercial Vehicle Company, Daewoo Songdo Development Co., Ltd, Daimler Trucks Korea Ltd., MAN Truck & Bus Korea Ltd., Volvo Group Korea Co., Ltd, Scania Korea Ltd.
  Total Fines (DOJ) No fines imposed
  Total Fines (EC) No fines imposed
In 2013, the Korea Fair Trade Commission (“KFTC”) imposed total fines of over ₩116 billion against seven manufacturers and distributors of large commercial cargo vehicles companies for engaging in a conspiracy to fix the sales price of large commercial cargo vehicles.  Large commercial cargo vehicles include dump trucks, tractors, and cargo trucks.  The companies subject to investigation by the KFTC included Hyundai Motor Company, Tata Daewoo Commercial Vehicle Company, Daewoo Songdo Development Co., Ltd, Daimler Trucks Korea Ltd., MAN Truck & Bus Korea Ltd., Volvo Group Korea Co., Ltd, and Scania Korea Ltd.  According to the KFTC, these companies exchanged information with one another, including sales prices and price increase plans, and colluded in fixing sales prices from 2002 to 2011. The total fine against seven companies is 116,048 won, collectively.

Enforcement Highlights:

  • In December 2013, the KFTC imposed total fines of over ₩116 billion, along with an order to take corrective remedies, and filed a criminal complaint with the prosecution against the companies.

Korea
Company Fine Date
Hyundai Motor Company No fines imposed 12/16/2013
Tata Daewoo Commercial Vehicle Company No fines imposed 12/16/2013
Daewoo Songdo Development Co., Ltd No fines imposed 12/16/2013
Daimler Trucks Korea Ltd. No fines imposed 12/16/2013
MAN Truck & Bus Korea Ltd. No fines imposed 12/16/2013
Volvo Group Korea Co., Ltd No fines imposed 12/16/2013
Scania Korea Ltd. No fines imposed 12/16/2013