September 28, 2016 12:41
Some 37 companies will be exempted from regulations on conglomerates on Friday. They include 25 private companies like Kakao and Harim as well as 12 state-run companies such as KEPCO.
The Fair Trade Commission on Tuesday said a revision of relevant laws means a company will be considered a conglomerate only if the combined assets of subsidiaries exceed W10 trillion, up from the current threshold of W5 trillion.
That cuts the number from 65 to 28.
Conglomerates are subject to stricter regulations on financing and tax matters.
The number of conglomerates soared since 2009, when the W5 trillion cutoff was introduced, and an increasing number of companies' activities have been restricted under the current law.
- Copyright © Chosunilbo & Chosun.com