Kim Sang-jo, the newly-appointed commissioner of the Fair Trade Commission, said in his press conference on May 17 that he will focus on preventing economic concentration of the nation's top-four chaebols namely Samsung, Hyundai Motor, SK, and LG.
Kim added, "I think the scope of the companies that will be controlled under the government's economic concentration restraint policy could be narrowed to the top-four business groups which account for about a half of the assets owned by the top-30 businesses in Korea."
He stressed, "For these business groups, the Fair Trade Commission will keep a strict stance when applying the law and regulation."
Kim has been called "conglomerate sniper." Starting from 2006, he has led civic group People’s Solidarity for Participatory Democracy with focus on chaebol reforms.
Cheongwadae officials said that the President Moon Jae-in appointed the head of the Fair Trade Commission earlier than the economic vice minister, indicating that he would actively carry out business group reform by giving more power to the commission.
The Public Officials Benefit Association (POBA) will select two global private credit managers to invest around $200 million in mezzanine debt via separately managed accounts (SMAs). POBA will allocate $100 million to each of two SMAs through two domestic investment&hellip
The Government Employees Pension Service (GEPS) will allocate $20 million to US dollar-denominated structured notes based on South Korean credit default swaps (CDS) and three-month US dollar LIBOR. It received proposals for the investment mandate by the afternoon of June 26.&hellip
Korea Investment Corporation (KIC) will open its third overseas office in Singapore as early as August in its push for alternative investments in Asia, according to a local newspaper report. The opening of a foreign office will come six years&hellip