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Hyosung gets KFTC approval for consent decree in technical-data case

( March 4, 2026, 03:05 GMT | Official Statement) -- MLex Summary: The consent decree request by South Korean conglomerate Hyosung and its subsidiary Hyosung Heavy Industries over alleged violation of the Subcontracting Act has been approved by the Korea Fair Trade Commission. The KFTC said Wednesday that it  agreed to settle allegations that the company unlawfully requested and retained technical data from its subcontractors, which is conduct prohibited under the law. Under the approved consent decree, Hyosung will limit its request for technical data to pre-approval and post-inspection purposes and cease any unjustified requests. The company also pledged to establish 1.1 billion won ($744,000) support package for subcontractors affected by the alleged conduct, with an additional 2.3 billion won to improve productivity and working conditions at the manufacturers. The KFTC said the case marks the first consent decree related to technical data issues since the remedy became available under the act in 2022.Statement is attached (in Korean)....

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