This is the new MLex platform. Existing customers should continue to use the existing MLex platform until migrated.
For any queries, please contact Customer Services or your Account Manager. Dismiss

South Korean auto parts suppliers fined $1.7 million for rigging bids

( April 22, 2026, 04:49 GMT | Official Statement) -- MLex Summary: SM Hwajin and Cubic Korea, two major South Korean car parts suppliers, were fined a combined 2.59 billion won ($1.7 million) by the country’s competition regulator for rigging bids in tenders issued by Hyundai and Kia for vehicle interior-surface treatment contracts. The Korea Fair Trade Commission said Wednesday that the two companies colluded on bids for five vehicle models between September 2020 and April 2023 by pre-determining winners and bid prices. The companies, which together held a 100 percent market share in hydrographic printing, agreed to split contracts, with SM Hwajin winning four models and Cubic Korea one. SM Hwajin was fined 1.6 billion won, while Cubic Korea was fined 959 million won.Statement is attached (in Korean)....

Prepare for tomorrow’s regulatory change, today

MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.


Know what others in the room don’t, with features including:

  • Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
  • Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
  • Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
  • Curated case files bringing together news, analysis and source documents in a single timeline

Experience MLex today with a 14-day free trial.

Start Free Trial

Already a subscriber? Click here to login

Documents

Related Sections