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Regulator Add Hybe and Six More Groups to 'Conglomerate Watchlist'

Written: 2024-05-15 16:59:47Updated: 2024-05-15 17:01:35

Regulator Add Hybe and Six More Groups to 'Conglomerate Watchlist'

Photo : YONHAP News

South Korea's antitrust regulator has decided to add seven more business groups to its list of conglomerates subject to stricter supervision, including entertainment giant Hybe. 

The Fair Trade Commission announced on Wednesday that it will designate a total of 89 business groups to the watchlist this year, with the seven new additions collectively comprising three thousand-318 affiliates.

Under the law, conglomerates with assets of five trillion won, approximately three-point-65 billion U.S. dollars, or more are designated as "large corporations" and are subject to stricter disclosure requirements for company information.

Hybe, ranking as the 85th largest conglomerate in the country, exceeded the five trillion won threshold in assets due to improved operating performance among its affiliates and increased borrowing.

Meanwhile, the CEO of e-commerce giant Coupang, Kim Bom-suk, and Dunamu's Song Chi-hyung avoided being designated as 'same person', a term used by the antitrust regulator to refer to individuals or legal entities effectively controlling a group of businesses.

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