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Regulator puts 10 more firms on watch list

  South Korea's anti-trust regulator said Tuesday that it has placed 10 additional companies on its watch list that limits mutual business investments and loan guarantees.

   The Fair Trade Commission (FTC) said a total of 1,360 affiliates from 51 conglomerates, including Samsung, LG and Hyundai Heavy Industries were on its list as of Tuesday.

    The FTC said 33 firms were included as affiliates of 18 conglomerates over the past month, while 23 firms from 10 large business groups were excluded from the list due to mergers and the sellout of shares.

   Under South Korea's fair trade law, affiliates of large business groups with assets of 5 trillion won ($4.46 billion) or more are banned from making equity investments in one another, a rule aimed at preventing the distortion of conglomerate governance structures.

(Yonhap News)

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