MOL Breached South Korean Antitrust Law
The Fair Trade Commission of South Korea (KFTC) announced on August 21, 2017 that several companies including MOL have breached South Korean antitrust law with respect to car carrier services. "MOL and other shipping companies have been investigated by the KFTC due to the suspicion of antitrust law violation. MOL has fully cooperated with the KFTC during the investigation," said a press statement from the company. Though the KFTC announced that they found the violation of South Korean antitrust law and imposed a fine, MOL and its subsidiary company, Nissan Motor Car Carrier Co., Ltd. (NMCC) was exempted from all penalty including the fine because KFTC granted MOL's and NMCC's joint application under the KFTCs leniency program.
MOL Pays $1.275 Million Penalty
The Federal Maritime Commission announced a compromise agreement reached with Mitsui O.S.K. Lines Ltd. (MOL) and its corporate affiliate, Nissan Motor Car Carrier Co. (NMCC). Mitsui O.S.K. Lines Ltd., is a vessel-operating common carrier based in Japan. As a separate line of commerce, MOL and NMCC operate pure car carriers (PCCs) and roll on/roll off (RO/RO) vessels in U.S. inbound and outbound trades. Under the agreement, MOL agreed to pay $1,275,000 in penalties. The compromise agreement resolved allegations that MOL and NMCC violated section 10(a) of the Shipping Act, 46 U.S.C.
MOL President’s 2010 New Year Message
A Happy New Year to all in our MOL Group companies. There is a Japanese saying, “ichiyo-raifuku” (the return of spring), meaning that “the winter has left and the spring has come”. It also means that “after a series of unfortunate things happened, things finally turning for the better”. I would like to celebrate the beginning of a new year together with all of you by rewording slightly this saying for MOL to “ichiyo-KENfuku”, which alters the meaning to: “do not wait passively for favourable turn of situations, but rather be proactive to seize better opportunities through our own endeavours”.
