Illegal Internal Exchange to be Examined

The Fair Trade Commission(FTC) on May 4 announced that it will start investigating 5 major chaebol groups regarding the 3rd illegal inside trade and exchange deal this year.
The investigation of Hyundai, Samsung, Daewoo, LG and SK will begin May 6 and continue to June 19.
Five subsidiaries in each group will be picked. Hyundai asset to be investigated include automobile, construction, heavy industries, securities and trust finance.
In Samsung's case, it will include electronics, securities, heavy industries, engineering and life insurance.
FTC is going to search for illegal assistance to the affiliates closely. Specifically the illegal movement of funds between companies.
The commission has the power to order an accounting investigation using 5 financial experts.
Director Kim Byong Bae from FTC said, 'Massive buying and selling within the groups will be checked which is not easy to prove with little cooperation from the chaebols.'
Hwashik Bong : trojans@joongang.co.kr