10 companies added to antitrust watchlist during Nov.-Jan. period

SEJONG, Feb. 3 (Yonhap) -- The number of South Korean business group affiliates under tight mutual investment and loan guarantee restrictions increased in the November-January period, the country's antitrust regulator said Monday.

The Fair Trade Commission (FTC) said 2,125 firms were on its watchlist as of last Friday, up 10 from three months earlier.

Under South Korean fair trade law, affiliates of large conglomerates with assets exceeding 10 trillion won (US$8.5 billion) are restricted from making equity investments in their affiliated companies or offering loan guarantees to each other.

The conglomerates are also required to make public major management decisions regarding their non-listed affiliates and are barred from engaging in excessive trading among affiliates.

kdh@yna.co.kr
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