South Korea fines Volkswagen $32 million for false advertising

Seoul's anti-trust agency slapped the South Korean unit of German carmaker Volkswagen with a 37.3 billion won ($32 million) fine Wednesday for false advertising over the carmaker's emissions fraud scandal. The Fair Trade Commission (FTC) said it would also ask prosecutors to investigate Volkswagen's headquarters, its South Korean unit and former and current executives including Terence Bryce Johnsson, head of overseas sales for Volkswagen affiliate Audi. The fine is the largest ever handed out by the FTC in a false advertisement case.