Published : Aug. 31, 2017 - 10:26
South Korea's corporate watchdog said Thursday that it has put four more affiliates of large business groups under tight restrictions on mutual investment and loan guarantees.
The Fair Trade Commission said 1,281 firms were on its monthly watch list as of end-August, up four from the previous month.
They are owned by the country's 31 largest business groups, including Samsung Group and Hyundai Motor Group, with assets of 10 trillion won ($8.5 billion) or more.
(Yonhap)
Three groups, like Hanwha and LS, added a combined seven more affiliates through stake purchases and new corporate establishments.
At the same time, three conglomerates, including GS and Hanjin, reduced the number of affiliates by a combined three companies, the FTC said.
Under South Korea's fair trade law, the affiliates of such large listed business groups are restricted from making equity investments in affiliates or offering loan guarantees to one another. (Yonhap)