ID :
192627
Mon, 07/04/2011 - 07:28
Auther :
Shortlink :
https://oananews.org//node/192627
The shortlink copeid
Corporate watchdog places 7 more firms on watch list
SEOUL, July 4 (Yonhap) -- South Korea's antitrust watchdog said Monday that it has placed seven more companies on its watch list that limits mutual investments and loan guarantees.
According to the Fair Trade Commission, the number of companies on the list stood at 1,578 from a total of 55 business groups as of Friday, compared with 1,571 affiliates last month.
Fourteen business groups including Samsung, SK and KT added 19 affiliates through new business launches, purchase of stakes and other methods, the FTC said.
Meanwhile, 12 companies from eight groups were excluded from the list due to such reasons as mergers and sale of stakes.
Under South Korea's fair trade law, affiliates of large business groups with assets of 5 trillion won (US$4.7 billion) or more are banned from making equity investments in one another. The rule is aimed at preventing the distortion of conglomerate governance structures.
According to the Fair Trade Commission, the number of companies on the list stood at 1,578 from a total of 55 business groups as of Friday, compared with 1,571 affiliates last month.
Fourteen business groups including Samsung, SK and KT added 19 affiliates through new business launches, purchase of stakes and other methods, the FTC said.
Meanwhile, 12 companies from eight groups were excluded from the list due to such reasons as mergers and sale of stakes.
Under South Korea's fair trade law, affiliates of large business groups with assets of 5 trillion won (US$4.7 billion) or more are banned from making equity investments in one another. The rule is aimed at preventing the distortion of conglomerate governance structures.
