3 firms taken off corporate watch list

Korea's antitrust agency said Wednesday it has removed three firms from its watch list that limits mutual investments and loan guarantees.

The Fair Trade Commission said the number of companies on the list stood at 1,841 last month, down from 1,844 tallied in the previous month. They are affiliated with the country's 63 business groups.

Thirteen affiliates of such business groups as KT and LG were newly added to the list, but 16 firms were excluded through stake sales or mergers and acquisitions, the watchdog noted.

Under Korea's fair trade law, affiliates of large business groups with assets of 5 trillion won (US$4.42 billion) or more are restricted from making equity investments in or offering loan guarantees to one another. (Yonhap)