Korea Free Trade Commission (KFTC) fines Denso, three others Japanese suppliers for auto-parts bid rigging

Policy & Regulation

Four Japanese suppliers fixed prices in collusion when selling alternators and ignition coils to local automakers for 10 years

The Korea Free Trade Commission (KFTC) has imposed fines totaling KRW9.2 billion (7.6 million) on four Japan-based suppliers for participating in bid rigging for auto parts supplied to South Korean automakers, The Korea Herald reported on 4 August. The four Japanese suppliers fined by KFTC are Denso, Mitsubishi Electric, Hitachi Automotive and Diamond Electric Mfg.

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