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Hyundai Motor Group receives most fines among top 10 conglomerates: FTC

2017/10/19 09:57

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SEOUL, Oct. 19 (Yonhap) -- Hyundai Motor Group has been fined the most among South Korea's 10 biggest conglomerates in the past 18 months for various violations of fair trade and other laws, government data showed Thursday.

Hyundai Motor Group paid 85.1 billion won (US$75.1 million) in fines, about 28 percent of the 301.9 billion won in fines levied on the country's largest business groups in the cited period, according to the statistics provided by the Fair Trade Commission (FTC).

Hyundai Engineering & Construction Co., affiliated with Hyundai Motor Group, paid 61.9 billion won in penalties for price fixing in the bid to construct an LNG tank for the state-run Korea Gas Corp. (KOGAS).

Samsung Group came in second in fines paid at 82.9 billion won, followed by Hanwha Group and GS Group.