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South Korea Ads 34 More Firms To Antitrust Watchlist

 |  February 3, 2022

The number of South Korean companies affiliated with large business groups under tight supervision rose by 34 in the three months ending January 31 as conglomerates expanded new businesses, the antitrust regulator stated Thursday, February 3.

The total number of affiliates on the Korean Fair Trade Commission (KFTC) watch list reached 2,738 as of end-January, compared with 2,704 three months earlier, according to the commission.

Major business groups newly launched or acquired 112 units, while offloading 78 others from affiliate lists in the November-January period.

More firms established or bought entities in line with their environmental, social and governance (ESG) management, and added affiliates to overhaul their business portfolios, according to the regulator.

Energy-to-telecom giant SK Group newly added the largest number of affiliates under its wing with 16, followed by Kakao Corp., the operator of the country’s most-used mobile messenger KakaoTalk, with 12 units.

South Korea’s largest family-run conglomerate Samsung Group held 60 affiliates as of Thursday. Automaking giant Hyundai Motor Group had 57 affiliates, and SK Group held 176 units.

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