Siemens fined $5.8 million in South Korea for hurting aftermarket competitionStaff 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:
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. ■