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5 firms added to antitrust watch list in June

All Headlines 10:00 July 03, 2017

SEJONG, July 3 (Yonhap) -- The number of South Korean business groups' affiliates under tight restrictions on mutual investment and loan guarantees rose slightly in June from a month earlier, the corporate watchdog said Monday.

The Fair Trade Commission (FTC) said 1,268 firms were on its monthly watch list as of end-June, up five from the previous month.

They are owned by the country's 31 largest business groups, including Samsung Group and Hyundai Motor Group, with assets of 10 trillion won (US$8.5 billion) or more.

Ten groups, like SK and CJ, added a combined 16 more affiliates through stake purchases and new corporate establishments.

At the same time, seven conglomerates, including GS and Doosan, reduced the number of affiliates by 11 companies from under their wings, the FTC said.

Under South Korea's fair trade law, the affiliates of such listed large business groups are restricted from making equity investments in affiliates or offering loan guarantees to one another.

5 firms added to antitrust watch list in June - 1

brk@yna.co.kr
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