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South Korea's top auto parts suppliers face fines over agreement to split bids

By Wooyoung Lee ( April 22, 2026, 07:04 GMT | Insight) -- SM Hwajin and Cubic Korea, South Korea’s top auto parts suppliers specializing in vehicle interior-surface treatment, have been hit with a combined fine of 2.59 billion won ($1.7 million) by the country’s competition regulator for rigging bids in tenders issued by Hyundai and Kia.SM Hwajin and Cubic Korea, South Korea’s top auto parts suppliers specializing in vehicle interior-surface treatment, have been hit with a combined fine of 2.59 billion won ($1.7 million) by the country’s competition regulator for rigging bids in tenders issued by Hyundai and Kia....

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