The amount of 24 trillion won in the internal transactions of the affiliates of the top 10 groups is the subject of the Fair Trade Commission’s’working out’ monitoring. It follows the amendment to the Fair Trade Act passed last week by the National Assembly. The number of regulated companies in the top 10 groups will increase from 29 (as of last year) to 104.
The amount of internal transaction monitoring is also 5.4 trillion → 24 trillion
– According to the Fair Trade Commission on the 13th, the target of the regulation for contributing to large corporations will be expanded to companies with a 20% or higher total family ownership from the end of next year. Subsidiaries that these companies own more than 50% of are also subject to regulation. The amount of internal transactions between subsidiaries of large corporations, which are subject to the FTC’s monitoring, increases from 5.42 trillion won to 239.6 trillion won.
In the case of the Samsung Group, the number of targets to be regulated to drive work will increase from 1 company (Samsung C&T) to 11 companies. Samsung C&T Life and nine subsidiaries of these companies. Hyundai Motor Group will expand to four companies including Hyundai Glovis, and SK Group will expand from one to nine. Four new LG Group companies are included in the regulation.
The business community insisted on the revised Fair Trade Act, “It will prevent the rational internal transactions of companies” and that “selling the stake (to avoid regulation) will be disadvantageous in maintaining management rights.”
Sejong = Reporter Seongbin Lim [email protected]
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