SEOUL, Apr. 27 (Korea Bizwire) — Kim Sang-jo, the director of the Fair Trade Commission, in response to American activist fund Elliott Management Corp.’s call to restructure Hyundai Motor Group, stated that “following such demands would be going against antitrust laws.” Kim also said that Elliott’s demands were “unfair” during the Asia Future Enterprise Forum [...]
SEOUL, Jun. 21 (Korea Bizwire) — South Korea’s presidential policy advisory panel said Tuesday that within the next five years it will abolish the country’s antitrust watchdog’s exclusive rights to file a complaint with the state prosecution for any fair trade violations. “We will remove the Fair Trade Commission (FTC) of its exclusive authority to [...]
SEJONG, May 25 (Korea Bizwire) — The nominee of South Korea’s corporate watchdog said Wednesday that the government will strengthen punishments against “funneling of business” practices within conglomerates as he pushes forward his pledge to establish fair trade. “It is necessary to intensify financial sanctions such as increasing fines against illegal intra-group trading,” Kim Sang-jo, [...]
SEOUL, May 19 (Korea Bizwire) — The nominee to head South Korea’s antitrust regulator pledged Thursday to scrutinize four major conglomerates as he seeks to establish fair competition in Asia’s fourth-largest economy. “I will assess issues related to the four major groups in a more thorough manner when the Fair Trade Commission implements laws,” Kim [...]