The number of South Korean business groups' affiliates subject to restrictions on mutual investments and loan guarantees rose slightly this month from a year earlier, the antitrust watchdog said Friday.

The Fair Trade Commission said the number of firms on its monthly watch list stood at 1,128 as of end-December, up one from the previous month.

The affiliates are owned by the country's 27 largest business groups, including Samsung Group and Hyundai Motor Group.

Seven business groups, including Shinsegae and CJ, added a combined nine more affiliates through stake purchases and new establishments. On the other hand, six conglomerates, including Kumho Asiana, had eight fewer companies on the FTC's updated list.

Under South Korea's fair trade law, the affiliates of large business groups with assets of 10 trillion won ($8.5 billion) or more are restricted from making equity investments in affiliates or offering loan guarantees to one another.

In September, the watchdog raised the asset ceiling from 5 trillion won as part of its deregulation efforts, reducing the number of conglomerates subject to the tough FTC surveillance from 65 to 27. (Yonhap)