[Alpha Biz=(Chicago) Reporter Kim Jisun] The Ministry of Land, Infrastructure and Transport announced on the 7th that it has imposed a fine of 18.7 billion won on 19 manufacturers and importers who sold cars that did not meet safety standards.
The manufacturers and importers that were fined are Hyundai Motor, Hunger Renault Korea, Mercedes-Benz Korea, Volkswagen Group Korea Porsche Korea, Volvo Cars Korea, Tesla Korea, Polsta Automotive Korea, Toyota Motor Korea, Jaguar Land Rover Korea, There are 19 companies including Stellatis Korea.
Renault Korea (KRW 3.5 billion) was fined the most, followed by Mercedes-Benz Korea (KRW 3.05239 billion), Hyundai Motor (KRW 2.432 billion), Volkswagen Group Korea (KRW 2.126 billion) and Kia (KRW 1.2 billion).
The Ministry of Land, Infrastructure and Transport explained that it calculated and imposed fines according to the standards stipulated in the Automobile Management Act, such as target car sales, correction rate and legal ceiling, on 37 cases that were recalled between July last year and January this year.
Of the 37 imposed fines, nine cases achieved a correction rate of more than 90 percent within three months, reducing fines by 50 percent, while one case achieved a correction rate of more than 90 percent within six months, reducing fines by 25 percent.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
