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[Exclusive] Korean military set to ban iPhones over 'security' concerns
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[AtoZ into Korean mind] Humor in Korea: Navigating the line between what's funny and not
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Yoon seeks rebound, taps 5-term lawmaker as chief of staff
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Korean, Romanian leaders discuss defense tech, nuclear energy
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Medical standoff deepens as doctors reject new med school plan, talks
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[Graphic News] 77% of young Koreans still financially dependent
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N. Korea sends economic delegation to Iran amid suspected military cooperation
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[Herald Interview] Why Toss invited hackers to penetrate its system
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S. Korea calls on Japan to confront history amid Yasukuni Shrine visit
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S. Korean envoys convene to navigate strategy amid Middle East tensions
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South Korea's antitrust watchdog said Monday that it has decided to reject a commitment agreement request by Hyundai Mobis Co., the country's largest auto parts maker, which is suspected of abusing its market power.
The company has been under investigation by the Fair Trade Commission for forcing its dealerships to meet an unreasonable sales target between January 2010 and November 2013, according to the watchdog.
The company has been under investigation by the Fair Trade Commission for forcing its dealerships to meet an unreasonable sales target between January 2010 and November 2013, according to the watchdog.
In a commitment request filed in June, Hyundai Mobis said it will compensate the dealerships and create a 10 billion-won ($8.87 million) fund to help them.
A commitment decision refers to a process in which the FTC can finalize a case swiftly without making any determinations on illegality if companies under investigation voluntarily come up with reasonable corrective measures.
But the FTC turned down the request, saying that Hyundai Mobis' remedial actions are insufficient.
It ordered the company to submit an improved commitment proposal by October. (Yonhap)
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