Two of the Japanese auto parts firms that were fined millions of dollars by South Korea's antitrust watchdog for price fixing,… are now under further investigation.
Prosecutors from Seoul Central District have launched a probe into two Japanese auto parts suppliers Mitsubishi Electric and Hitachi Automotive Systems over suspected price rigging in their dealings with South Korean buyers.
The Fair Trade Commission found the firms had been colluding to fix prices when selling alternators and ignition coils to local automakers for a period spanning 10 years.
The commission said Sunday it had slapped fines totaling 7-point-5 million U.S. dollars on four Japanese companies.