SOUTH KOREA DEALERS BEWARE – SELL TOO MANY CARS AND LOSE YOUR BUSINESS
July 1st, 2010
BY KEITH NUTHALL
EUROPEAN Union (EU) auto dealers importing South Korea-made cars in future beware - if they sell too many, punishing import duties may make them too expensive for average consumers. The European Parliament has to ratify a trade deal struck last year lowering tariffs for commerce between the EU and South Korea and is worried an influx of cheap South Korean car imports could harm European manufacturers. The EP international trade committee has now approved draft legislation implementing safeguards allowing auto makers and governments to demand a ...
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