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[THE INVESTOR] The Fair Trade Commission on July 6 disclosed planned changes to the Monopoly Regulation and Fair Trade Act.
The proposed revisions will segregate corporate groups with 5 trillion won (US$ 4.3 billion) or more assets into two categories. Those with 10 trillion won or larger assets will continue to be categorized as large corporate groups, and subjected to tougher regulations regarding cross-shareholding, and debt guarantees among affiliates.
The groups whose assets range from 5 trillion won to 10 trillion won will be exempt from some of the regulations larger groups are subjected to.
They will continue to be subjected to regulations regarding unfair trade practices between affiliates, the founding family and others with special relationship with the company using the company for personal gains, and mandatory regulatory filings.
The revision also makes it compulsory for large companies to include details regarding shareholding structure between affiliates in regulatory filings.
By Choi He-suk (cheesuk@heraldcorp.com)
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Articles by Korea Herald
