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South Korea: Family businesses the FTC crackdown

 |  June 7, 2013

South Korea’s Fair Trade Commission has turned its eye toward family owned business as it vowed to fight anticompetitive practices of the companies, which currently dominate the markets over smaller entities. Specifically, FTC chief Noh Daelae told reporters that the regulator would crack down on embezzlement occurring between business owners, a practice that has plagued family-owned firms and strengthened them to have unfair advantages over smaller companies. Other crackdowns were announced at a hotel in Seoul to various European executives.

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