A PYMNTS Company

South Korea: Antitrust body to ease regulation on conglomerates

By  |  June 9, 2016

The nation’s fair trade authorities said Thursday it would ease a key regulation to ban excessive expansion of conglomerates by raising the asset ceiling for its conglomerate watch list for the first time in seven years.

In an economy-related ministers meeting held in Seoul, the Fair Trade Commission said it would boost the minimum asset criteria to $8.65 billion from 5 trillion won.

Mobile messaging giant Kakao and bio drugmaker Celltrion will benefit from the move, being delisted from the conglomerate watch list for 2016, market watchers said.

In addition, the new FTC ruling for the conglomerate watch list would exclude state-run giants like Korea Electric Power Corp. and Korea Land & Housing Corp.

Full Content: Korea Herald

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.