Thursday 27 February, 2020

Volkswagen fined nearly $32 million in South Korea

Published: 08 December 2016 Thursday, 06:22  AM

Volkswagen fined nearly $32 million in South Korea

South Korea`s corporate watchdog fined the local unit of German car maker Volkswagen nearly 32 million dollars for false advertising and said it would file criminal complaints against five current and former executives of the company, local media reported Wednesday.

The Fair Trade Commission (FTC) handed down a 37.3 billion won (31.9 million dollar) fine to Audi Volkswagen Korea for making false advertisements about its cars to conceal fabricated emissions results, the Yonhap news agency reported.

"Audi Volkswagen Korea made false advertisements about its cars, claiming they meet the emission requirements and have better gas mileage," the FTC said according to Yonhap.

The company had advertised that its cars met European emissions standards and that its diesel cars were environmentally friendly.

The fine is the largest the FTC has ever imposed for false advertising.

Volkswagen has admitted that it had installed illegal software to cheat emissions tests in some 11 million cars worldwide. In response to the scandal, South Korean authorities launched an investigation into more than a dozen foreign car manufacturers.

In August, South Korea implemented a ban on the sale of almost all Volkswagen models.