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Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

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Takata

More Takata Air Bags Are Being Recalled in This Country

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Reuters
Reuters
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Michelle Toh
Michelle Toh
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By
Reuters
Reuters
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Michelle Toh
Michelle Toh
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September 28, 2016, 2:54 AM ET
Massive Airbag Recall Prompts Safety Concerns
MEDLEY, FL - MAY 22: A deployed airbag is seen in a 2001 Honda Accord at the LKQ Pick Your Part salvage yard on May 22, 2015 in Medley, Florida. The largest automotive recall in history centers around the defective Takata Corp. air bags that are found in millions of vehicles that are manufactured by BMW, Chrysler, Daimler Trucks, Ford, General Motors, Honda, Mazda, Mitsubishi, Nissan, Subaru and Toyota. (Photo by Joe Raedle/Getty Images)Joe Raedle — Getty Images
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South Korea said on Wednesday that 13 automakers will recall some 110,000 vehicles equipped with Takata’s (TKTDY) defective air bags, the latest development in a long-running safety crisis involving the Japanese company.

The United States in May announced a new round of recall of Takata’s air bag inflators which have been linked to at least 14 deaths and more than 100 injuries and triggered the largest-ever auto recall. Since then, other countries have been announcing their own national recalls.

South Korea’s transport ministry said a total of 221,870 vehicles made by 17 automakers have faulty Takata air bags. While 13 companies including Honda Motor (HMC), Toyota Motor (TM), BMW (BMWYY), and Audi (AUDVF) plan to recall some 110,000 of them, four others including General Motors (GM) and Mercedes-Benz have not decided on their global recall plans.

See also: Takata’s Search for a Savior Could Drag Into Next Year

The ministry said those companies could face a fine or a 10-year prison sentence should they delay recalls.

In 2013, South Korea started recalls of some 50,000 vehicles with defective Takata airbags, with nearly 45% of the models having replacement airbags by June this year.

A number of global automakers are working to replace as many as 100 million defective air bag inflators worldwide. Takata airbag inflators can explode with too much force and spray metal shrapnel into vehicle passenger compartments.

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