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Siemens fined $5.8 million in South Korea for hurting aftermarket competition

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Staff Writer | January 17, 2018
South Korea's corporate watchdog slapped a 6.2 billion won ($5.8 million) fine on German industrial giant Siemens's Korean affiliates for abusing their dominance in the local aftermarket for medical equipment, such as CT and MRI.
Asia   According to the Fair Trade Commission:
According to the Fair Trade Commission, Siemens affiliates changed contract terms for their software programs, used for the maintenance of their CT and MRI equipment, depending on whether a local hospital employed a third party maintenance service provider or Siemens' own maintenance provider.

As of 2016, over 90 percent of Siemens's CT and MRI equipment was maintained by the company's own service affiliates, FTC said.

Siemens, GE and other foreign firms dominate the CT and MRI market in South Korea, with Siemens having maintained its No. 1 position in the medical equipment sector for four straight years.