Korea’s antitrust regulator said on Dec. 4 the number of firms affiliated with local conglomerates on its watch list dropped by six to 1,280 in November from the previous month.
Nine companies were added to the list of the Fair Trade Commission, while 15 others were removed from it during the month. Those on the list are subject to a set of restrictions, including a ban on cross-shareholding and loan guarantees among subsidiaries.
The decrease is mainly due to shipbuilders, such as Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering, and other conglomerates spinning off a total of 15 affiliates.
On the other hand, a newly acquired nine subsidiaries of Samsung, GS, Shinsegae and six other conglomerates were added to the list.
By Alex Lee and newswires (email@example.com