Korean FTC Wants To Tighten Reins On Chaebol

Law360, New York (February 6, 2007, 12:00 AM EST) -- South Korea’s Fair Trade Commission warned the country’s conglomerate groups on Monday that it would take a tougher stance against companies that abuse their market dominance and use unfair competition practices to keep other companies from growing.

FTC Chairman Kwon Oh-seung told the Financial Times that there needed to be tougher regulations on cartels and mergers, especially amongst Korea’s chaebol families.

Chaebol refers to the large, family-controlled Korean corporate groups that have played a major role in the South Korean economy since the 1960s. They are...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.