Market updates on July 16
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South Korea intends to have BMW, Mercedes and Porsche units fined on emission rules breach
South Korea is on the verge of imposing a combined fine of approximately 70.3 billion won on units of such car makers as Mercedes-Benz, BMW AG as well as Porsche due to violation of emission rules, as the environment ministry informed on Thursday.
Seoul Main Customs has also asked prosecutors to probe the three car makers for violation of customs law, including illegal imports, as the ministry stressed.
The BMW unit is going to be fined about 60.8 billion won. It’s accused of falsifying documents on emission test outcome not getting official approval for changes in emission-control components before their vehicles were sold, as the Ministry of Environment disclosed in a statement.
The Mercedes-Benz as well as Porsche units are going to be fined respectively 7.8 billion won and 1.7 billion won for not receiving approval for updates in emission-control components before their vehicles were sold.
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