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.
