• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Exclusive

An hour in the Oval Office with President Trump.

An hour in the Oval Office with President Trump.

An hour in the Oval Office with President Trump.

An hour in the Oval Office with President Trump.

An hour in the Oval Office with President Trump.

An hour in the Oval Office with President Trump.

An hour in the Oval Office with President Trump.

An hour in the Oval Office with President Trump.

An hour in the Oval Office with President Trump.

An hour in the Oval Office with President Trump.

Volkswagen

South Korea Suspends Sales of Volkswagen Vehicles in Emissions Probe

By
Reuters
Reuters
and
Michelle Toh
Michelle Toh
Down Arrow Button Icon
By
Reuters
Reuters
and
Michelle Toh
Michelle Toh
Down Arrow Button Icon
August 2, 2016, 12:10 AM ET
SKOREA-GERMANY-AUTOMOBILE-VOLKSWAGEN-FRAUD
A vintage Volkswagen Beetle is displayed outside a Volkswagen Korea showroom in Seoul on August 2, 2016. South Korea on August 2 said it was suspending sales of 80 Volkswagen models, in a widening probe over the German carmaker's emission-cheating scandal. / AFP / JUNG YEON-JE (Photo credit should read JUNG YEON-JE/AFP/Getty Images)JUNG YEON-JE/ AFP/ Getty Images

South Korea on Tuesday suspended sales of 32 Volkswagen Group models and fined the German automaker 17.8 billion won ($16.06 million), accusing it of forging documents on emissions or noise-level tests.

The move by Asia’s fourth-biggest economy builds pressure on Volkswagen (VLKAY) as it struggles to repair its reputation after it admitted in September to using illegal software to hide toxic emissions on about 11 million diesel vehicles worldwide.

See also: Hoaxwagen: Inside Volkswagen’s Diesel Fraud

Europe’s largest automaker more than tripled sales in South Korea to 35,778 last year, before suffering a slump following the emissions scandal. South Korea is one of the major markets for its luxury brands like Audi and Bentley.

The environment ministry said it had revoked certification for 83,000 diesel and gasoline-powered Volkswagen, Audi and Bentley vehicles, bringing the total number of VW vehicles de-certified in South Korea to 209,000.

This amounted to 68% of the vehicles the German automaker had sold in the country since 2007, the ministry said.

 

In November, the government revoked certification of 126,000 VW vehicles, ordered their recall and fined Volkswagen 14.1 billion won, accusing the company of manipulating an emissions control system.

Prosecutors subsequently raided Volkswagen’s Seoul offices and arrested an executive.

Volkswagen voluntarily suspended sales of most of its models in South Korea from July 25, ahead of the government’s decision.

About the Authors
By Reuters
See full bioRight Arrow Button Icon
By Michelle Toh
See full bioRight Arrow Button Icon

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in

Top CD rates from major banks May 18, 2026: Chase CDs, Bank of America CDs, Citibank CDs, and more
BankingCertificates of Deposit (CDs)
Top CD rates from major banks on May 18, 2026: Chase CDs, Bank of America CDs, Citibank CDs, and more
By Danny BakstMay 18, 2026
1 minute ago
Current price of Ethereum for May 18, 2026
Personal FinanceEthereum
Current price of Ethereum for May 18, 2026
By Joseph HostetlerMay 18, 2026
7 minutes ago
Current price of Bitcoin for May 18, 2026
Personal FinanceCryptocurrency
Current price of Bitcoin for May 18, 2026
By Joseph HostetlerMay 18, 2026
7 minutes ago
michael
Arts & EntertainmentBox office
Moviegoers still hungry for sanitized Michael Jackson biopic, knocking ‘Devil Wears Prada 2’ off top spot
By Lindsey Bahr and The Associated PressMay 18, 2026
25 minutes ago
haidt
AIGen Z
A record number of 18-year-olds are set to graduate into an economy designed against them
By Nick LichtenbergMay 18, 2026
27 minutes ago
Current price of oil as of May 18, 2026
Personal FinanceOil
Current price of oil as of May 18, 2026
By Joseph HostetlerMay 18, 2026
28 minutes ago

Most Popular

Microsoft AI chief gives it 18 months—for all white-collar work to be automated by AI
AI
Microsoft AI chief gives it 18 months—for all white-collar work to be automated by AI
By Jake AngeloMay 16, 2026
2 days ago
The top foreign holders of U.S. debt may soon dump Treasury bonds and bring their money back home, potentially spiking borrowing costs
Economy
The top foreign holders of U.S. debt may soon dump Treasury bonds and bring their money back home, potentially spiking borrowing costs
By Jason MaMay 17, 2026
20 hours ago
The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
Politics
The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
By Jake AngeloMay 12, 2026
6 days ago
'No one was coming to save me': How Reese Witherspoon built a $900 million company from a problem Hollywood wouldn't fix
Success
'No one was coming to save me': How Reese Witherspoon built a $900 million company from a problem Hollywood wouldn't fix
By Sydney LakeMay 17, 2026
1 day ago
SpaceX heads into a record-shattering IPO with the 'deepest moat that exists today' as investors vow to 'never bet against Elon'
Innovation
SpaceX heads into a record-shattering IPO with the 'deepest moat that exists today' as investors vow to 'never bet against Elon'
By Jason MaMay 16, 2026
2 days ago
Former top Russian official admits the country is over Putin and can 'imagine a future without him' — even elites bail as Kremlin seizes their assets 
Politics
Former top Russian official admits the country is over Putin and can 'imagine a future without him' — even elites bail as Kremlin seizes their assets 
By Jason MaMay 16, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.