The number of business group affiliates subject to restrictions on mutual investments and loan guarantees declined in February from a month earlier, the antitrust watchdog said Tuesday.

The Fair Trade Commission said the number of corporate affiliates on the watch list stood at 1,694 as of Saturday, down 6 from the previous month.

Over the past month, 24 affiliates were excluded following mergers and acquisitions and other reasons, such as stake sales. Meanwhile, 18 companies were newly added, the watchdog said.

Under South Korea's fair trade law, affiliates of large business groups with assets of 5 trillion won ($4.6 billion) or more are restricted from making equity investments or offering loan guarantees to one another. (Yonhap News)