61 more firms added to antitrust watch list

conglomerates-affiliates

61 more firms added to antitrust watch list

SEJONG, Feb. 8 (Yonhap) -- South Korea's antitrust regulator said Wednesday it has added 61 new businesses to the list of companies affiliated with large business groups under tight supervision.

The total number of affiliates on the Fair Trade Commission (FTC) watch list came to 2,882 as of end-January, compared with 2,887 tallied three months earlier. Over the period, 66 companies were removed from the list following a merger, separation and other issues.

SK Group added eight additional companies under its wing, with Lotte Group gaining six new firms. CJ Group, meanwhile, offloaded eight companies, with Hanwha Group and Kakao Group losing seven and six affiliates, respectively.

Under fair trade law, large business groups with assets of 5 trillion won (US$3.97 billion) or more are required to publicly file details on inter-affiliate transactions, ownership structure and key information on non-affiliates.

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