[Infostock Daily= Reporter An Hoe Hyun] The Fair Trade Commission said on the 24th that it will impose a 13.3 billion won payment order and 11.5 billion won fine on the Hanon systems and file a complaint with the prosecution against the corporation. The size of the payment order and fine is the largest amount ever for the act of reducing subcontract payments.
The Fair Trade Commission(FTC) judged that Hanon Systems, Hyundai Motor's primary partner company, which has the largest domestic market share in the automotive air-conditioning system, unfairly reduced the delivery price of 8.05 billion won for 45 companies supplying parts over 106 occasions from June 2015 to August 2017.
The already decided delivery price was cut through post-negotiation, and each year it created its own cost reduction target and managed the savings by supplier to achieve this goal.
In the second half of 2015, all partners were asked to cut unit prices by 10%, and if they did not comply, they threatened to change their accounts or reduce orders.
The FTC explained that suppliers had no choice but to seek leniency and agree to an unfair cut in unit prices.
Hanon Systems also fabricated and submitted 14 false data to hide violations of the law during the investigation, the FTC added.
Reporter An Hoe Hyun ahh@infostock.co.kr
