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소아쌤

FTC antitrust watch list increases by one in Sept.

By Yonhap

Published : Sept. 29, 2017 - 10:14

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South Korea's corporate watchdog said Thursday the number of affiliates belonging to large business groups on its antitrust watch list went up by one, as of the end of September.

The Fair Trade Commission said 1,966 firms were on its monitoring list compared to 1,965 from a month earlier.

Companies subject to greater oversight and restrictions belong to the country's 31 largest conglomerates, including Samsung Group and Hyundai Motor Group, with assets of 10 trillion won ($8.5 billion) or more, and 26 business groups that have 5 trillion won in assets.
 
Fair Trade Commission Chairman Kim Sang-jo (Yonhap) Fair Trade Commission Chairman Kim Sang-jo (Yonhap)

Five groups, including Hyundai Motor and GS, added seven more affiliates through stake purchases and new corporate establishments. However, six conglomerates, including POSCO and Doosan, reduced the number of affiliates by six companies, the FTC said.

Under South Korea's fair trade laws, the affiliates of the 31 large listed business groups are restricted from making equity investments in affiliates or offering loan guarantees to one another. The smaller 26 companies are obliged to disclose their corporate information to boost transparency. (Yonhap)

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