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Hyundai Heavy fined for subcontractor's technology misuse

All News 14:13 November 01, 2020

SEOUL, Nov. 1 (Yonhap) -- South Korean shipbuilder Hyundai Heavy Industries Co. has been fined 246 million won (US$216,800) for misusing a subcontractor's technologies, the country's antitrust watchdog said Sunday.

Hyundai Heavy shared the design of a subcontractor's lighting equipment with another subcontractor without permission to help it make the same equipment from April 2017 to April 2018, the Fair Trade Commission (FTC) said.

The shipbuilder was found to have delivered the design of five ship engine parts provided by one of its subcontractors to another company to lower the prices of the parts from June 2016 to May 2018, the watchdog said.

Last July, Hyundai Heavy faced the biggest-ever fine of 970 million won for acts of misusing technologies from other companies.

This photo provided by Korea Shipbuilding & Offshore Engineering Co., the parent of Hyundai Heavy Industries Co., on June 22, 2020, shows a shipyard in Ulsan, 414 kilometers southeast of Seoul. (PHOTO NOT FOR SALE) (Yonhap)


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