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24 more firms added to antitrust watch list in March

All News 11:00 April 03, 2017

SEJONG, April 3 (Yonhap) -- The number of South Korean business groups' affiliates subject to restrictions on mutual investment and loan guarantees rose sharply in March from a month earlier, the corporate watchdog said Monday.

The Fair Trade Commission (FTC) said 1,155 firms were on its monthly watch list as of end-March, up 24 from the previous month.

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

Five groups, including CJ and POSCO, added a combined 34 more affiliates through stake purchases and new corporate establishments.

On the other hand, eight conglomerates, including LG and Lotte, removed 10 companies from their wings, the watchdog said.

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

24 more firms added to antitrust watch list in March - 1


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