English | 简体中文 | 繁體中文 | 한국어 | 日本語
Tuesday, 7 November 2017, 12:16 JST
Share:
    

Source: Denso
Denso: The Korea Fair Trade Commission's Announcement Concerning the Monopoly Regulation and Fair Trade Act Related to Certain Automotive Components

KARIYA, JAPAN, Nov 7, 2017 - (JCN Newswire) - The Korea Fair Trade Commission (the "KFTC") announced today that it decided to order corrective measures and impose a surcharge on certain automotive suppliers pursuant to the Monopoly Regulation and Fair Trade Act, in connection with certain past sales of automotive fuel pumps and variable cam timing.

The KFTC has investigated this matter at certain automotive suppliers, including DENSO Corporation and its Korean subsidiary (DENSO Korea Automotive Corporation), and the DENSO companies have fully cooperated with the KFTC.

As per the KFTC's announcement, DENSO Corporation and its Korean subsidiary were named as the suppliers involved in the conduct suspected to be in violation of the Monopoly Regulation and Fair Trade Act. However, DENSO was exempted from all of the KFTC's orders as described above, because it had completely eliminated the conduct that was suspected to be in violation before the commencement of the authority's investigation and because it applied to the KFTC for the leniency program in regard to the automotive components referred above, which was granted by the KFTC.

It is DENSO's policy to comply with all applicable competition laws. Since learning of the investigation that was conducted at its U.S. subsidiary by the U.S. Department of Justice in February 2010, DENSO Group companies have been taking various preventive measures, including implementing more stringent compliance rules, more enhanced compliance training and more meticulous compliance monitoring, in order to further ensure that they comply with all applicable competition laws. DENSO believes that it has remained in complete compliance with all competition laws.

DENSO is committed to compliance with all applicable competition laws around the world.

Contact:
Sadayoshi Yokoyama, Toshiko Watanabe 
DENSO CORPORATION 
Phone: 81-566-25-5594 
Fax: 81-566-25-4509 
sadayoshi_yokoyama@denso.co.jp 
toshiko_watanabe@denso.co.jp


Topic: Press release summary
Source: Denso

Sectors: Automotive
https://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2022 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

 
Denso Links

http://www.globaldenso.com/en/

https://www.facebook.com/DENSOCorporation/

https://twitter.com/hashtag/denso?lang=en

https://www.youtube.com/channel/UCl8cZy9vYlTcnkVMEInM7XQ

https://ph.linkedin.com/company/denso

Denso Releated News
2022年9月27日 16時30分 JST
デンソー、画像センサーのさらなる広角化を実現
Tuesday, 27 September 2022, 14:33 JST
DENSO Expands Vision Sensor Detection Angle for Subaru Legacy Outback, Crosstrek Models
Friday, 29 July 2022, 18:32 JST
DENSO Announces Q1 2022 Results, Details Efforts Advancing its Pursuit of Sustainability and Safety
Friday, 8 July 2022, 17:06 JST
Isuzu, DENSO, Toyota, Hino, and CJPT to Start Planning and Foundational Research on Hydrogen Engines for Heavy-Duty Commercial Vehicles
2022年7月8日 14時30分 JST
いすゞ、デンソー、トヨタ、日野、CJPT、大型商用車向け水素エンジンの企画・基礎研究を開始
More news >>
Copyright © 2022 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Cookies Policy | Privacy Policy | Disclaimer | Terms of Use | RSS
US: +1 214 890 4418 | China: +86 181 2376 3721 | Hong Kong: +852 8192 4922 | Singapore: +65 6549 7068 | Tokyo: +81 3 6859 8575