Number of firms on watchdog's list increases in June

The overall number of business group affiliates subject to restrictions on mutual investments and loan guarantees rose in June from a month earlier, the antitrust watchdog said Monday.

The Fair Trade Commission said the number on the watch list stood at 1,688 from 63 business groups as of Monday, up four from the previous month.

Twelve affiliates were included on the list following a stake purchase or launching of new companies, while eight companies were removed, the watchdog said.

Under South Korea's fair trade law, affiliates of large business groups with assets of 5 trillion won ($4.9 billion) or more are restricted from making equity investments or offering loan guarantees to one another. (Yonhap)