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| ▲ This image, provided by Yonhap News TV, shows the Korea Fair Trade Commission in the central administrative city of Sejong. (PHOTO NOT FOR SALE) (Yonhap) |
regulator-large biz groups
8 more firms subject to tougher filing rules: regulator
SEOUL, April 27 (Yonhap) -- South Korea's antitrust regulator said Wednesday it has placed eight more firms, including the No. 1 cryptocurrency exchange operator, on a list of companies that are required to disclose detailed information on their management and business activities.
The Fair Trade Commission (FTC) unveiled its new updated list of large business groups with assets of 5 trillion won (US$4 billion) or more to face tougher filing regulations.
According to the list, 76 firms will be subject to the stricter filing rules starting on May 1, up from 71 the previous year.
Dunamu, the operator of Upbit, the country's largest cryptocurrency exchange by transaction value, and seven other firms will be added to the list. The total tally rose by five on-year as three companies, including builder Daewoo Engineering & Construction Co., will be removed from the list.
The FTC also placed 47 conglomerates with assets of 10 trillion won or more on its list of companies under supervision for their equity investments or inter-affiliate loan guarantees. The tally was higher than 40 big firms under scrutiny a year earlier.
Under the fair trade law, companies with assets of 10 trillion won or more are banned from making equity investments among affiliates or offering loan guarantees to each other.
The regulator said it has decided to place Dunamu on the list as it determined that the company's customer deposits worth 5.8 trillion won should be counted as assets. Its total assets are estimated at 10.8 trillion won.
The company has become the first large business group among cryptocurrency exchange operators, according to the FTC.
In the latest update, Samsung Group, the country's largest family-run conglomerate, maintained its status of the top large business group with assets of 483.9 trillion won and 60 affiliates under its wing.
Energy-to-telecom giant SK Group became the No. 2 conglomerate in terms of assets for the first time. The group's assets stands at 292 trillion won and 186 units under its control.
Automaker Hyundai Motor Group saw its ranking fall by one notch to No. 3 with 257.8 trillion won in assets.
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