BMW fined $10M, facing criminal probe in South Korea

Investigators says BMW concealed an engine defect that can cause a vehicle fire.

BMW has been fined $10 million and is facing possible criminal charges in South Korea after investigators concluded that the German automaker concealed an engine defect that's sparked nearly 40 vehicle fires in the country.

BMW has been under investigation in South Korea since August over reports of leaky cooling systems that can result in an engine fire. Nearly 40 cases involving BMW engine fires have been reported in South Korea this year.

Officials recently wrapped their investigation, concluding that BMW not only knew about the defect, but also delayed recalls to address the issue. South Korea fined BMW $10 million for dragging its feet in the recall of 22,670 vehicles. South Korea's transport ministry also plans to ask prosecutors to investigate BMW over the matter.

BMW's sales are down 10 percent so far this year in Korea.