Samsung, SK, Lotte Units Fined for Breaching Disclosure Rules

South Korea's corporate regulator said Friday it has fined several subsidiaries of Samsung, SK and Lotte Groups a combined 284 million won ($302,000) for violating rules governing the public disclosure of internal trading.

The Fair Trade Commission (FTC) investigated the 30 companies, consisting of 10 from each group, earlier in the year to determine whether they acquired proper board approval and made regulatory filings for all cross-unit trading worth over 10 billion won.

The watchdog said it plans to conduct similar investigations for companies under Hyundai Motor, GS, Hanjin and Hyundai Engineering & Construction, next year.

The FTC has recently intensified its investigations into suspected unfair trading practices of chaebol, or

family-controlled conglomerates. In September, the watchdog fined Hyundai Motor Co., the country's No. 1 automaker, and its four affiliates more than 60 billion won for violating rules on internal trading.