Ownership of Small Companies Easier
From April, ownership of small companies, those with less than 8.5 million dollars in assets, will be made more easier.The measure is intended for chaebol groups, so they can separate subsidiaries into small independent businesses in the course of restructuring.
Furthermore, long-time monopoly and collusion safeguards on the selling of various products like laundry machines, air conditioners and sugar will be fully investigated to see whether fair trade regulations are being followed.
Chun Yoon Chul, head of the Fair Trade Commision, said on February 22, 'To help chaebol's restructure themselves more easily, we decided to allow the smoother formation of small companies, but there also will be a closer monitoring of fair trade practices.'
with the Korea JoongAng Daily
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