Hyundai Heavy fined for unfair trade

South Korean’s Fair Trade Commission has imposed a KRW970m ($805,000) fine on the country’s shipbuilding giant, Hyundai Heavy Industries (HHI), over its unfair trade practices with subcontractors.

According to the anti-trust commission, HHI stole technologies in the production of pistons on ship diesel engines from subcontractor Samyoung and shared the technology with another subcontractor, and then the shipyard ended trade with Samyoung one year later.

Last year, HHI was fined KRW431m ($360k) for similar charges including exploiting a contractors’ technology data on construction equipment.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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