Fair trade panel eases ownership cap but demands tougher antitrust standard
Korea's major chaebol will enjoy more lenient regulatory governance in the New Year as the government has decided to ease the equity investment cap on conglomerates.
The Fair Trade Commission and other government ministries are set to ban companies worth over 2 trillion won ($2.1 billion) in total assets from investing more than 40 percent of equity in their group affiliates through reshaping regulations in November.
The new rules are clearly scaled down compared to the previous shareholding cap which holds rein on all affiliates of business groups with over 6 trillion won ($6.3 billion) in total assets.
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