The Ministry of Land, Infrastructure and Transport announced on the 20th that it has imposed a total fine of 10.26 billion KRW on 10 manufacturers and importers who sold vehicles that did not meet automobile safety standards.
The companies subject to the fine are Volkswagen Group Korea, Mercedes-Benz Korea, Ford Sales Service Korea, Porsche Korea, GM Korea, BMW Korea, Honda Korea, Toyota Motor Korea, Nissan Korea, and Hyundai Motor Company.
The ministry explained that it calculated the fines based on the standards set forth in the "Automobile Management Act," including the sales revenue of the 10 companies whose vehicles were subject to recall due to non-compliance with safety standards from January to the end of June last year, the correction rate, and the maximum fine amount.
Additionally, a separate fine totaling 39 million KRW was imposed on five manufacturers and importers who sold vehicles without correcting defects during this action. These include Stellantis Korea, Mercedes-Benz Korea, Volkswagen Group Korea, Ford Sales Service Korea, and Kia. Porsche Korea, Stellantis Korea, and Kia were also separately fined a total of 59 million KRW for failing to notify buyers that defects had been corrected prior to sale.
Meanwhile, to improve recall correction rates, the ministry requires manufacturers and importers with low correction rates to re-notify vehicle owners of recall plans. The Automobile Recall Center provides information on recalls, whether vehicles are subject to recall during inspections, and periodic correction rates.
A ministry official stated, "If violations of the Automobile Management Act are confirmed, strict measures will be taken in accordance with the law."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
