Flare chaebol revolution…Large corporations to be investigated
[ Kwon Dae Gyung kwon213@ ] | 2017-12-21 10:38:34
Competition experts have begun a full-fledged investigation into a group of public corporations that have been pointed out that they are being mobilized to expand group dominance of chaebols.
In particular, according to the first deadline of December announced by the chairman of the Fair Trade Committee of Kim Sang-Joo, it is a state that goes from the public corporation to the chaebol reform board. It is being accepted as a signal of intense chaebol reform.
The Korea Fair Trade Commission (KFTC) said on December 20 that it requested the submission of data on related parties to 57 publicly-traded companies.
First, the FTC asked companies to list the nonprofit corporations belonging to the target business group, whether they are related to the same person, and whether the inheritance tax and gift tax law are applicable to the public interest corporation. In addition, among the non-profit corporations, the inheritance tax and the gift tax law are limited to public corporations to submit general status, establishment status, appearance status, governance structure, stock ownership status,
If the nonprofit corporation whose reporting is missing during the investigation is found to have stock of affiliate companies, the plan will be reflected in the incorporation of affiliates and the calculation of internal stake in the appointment of large corporations. In addition, a non-profit corporation that has reported that it has been exempted from related persons who were formerly insured by the company will also take follow-up action to cancel the exclusion decision if it is judged that the requirement is no longer valid.
Mr. Kim said, "I will investigate a large group of public interest foundations at a meeting of five major group executives last month," he said. "Through basic research, we will gradually carry out measures that do not feel burdened by large corporations." Besides, the FTC official said, "There is a criticism that large corporate group public benefit corporations are being used as means of expanding control of the total number and total number of family members.” He said. The KFTC plans to conduct a so-called first-stage baseline survey and spend a month or so on companies to conduct a second phase of the survey in January. The second stage of the investigation will be based on voluntary cooperation from the subject of investigation based on the Basic Law of Administrative Investigation. However, it is expected that the contents will be grasped within the range necessary for establishing measures to restrain economic concentration on public benefit corporations under the inheritance tax and gift tax law.
Sejong city=By Kwon Dae-gyung kwon213@dt.co.kr
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In particular, according to the first deadline of December announced by the chairman of the Fair Trade Committee of Kim Sang-Joo, it is a state that goes from the public corporation to the chaebol reform board. It is being accepted as a signal of intense chaebol reform.
The Korea Fair Trade Commission (KFTC) said on December 20 that it requested the submission of data on related parties to 57 publicly-traded companies.
First, the FTC asked companies to list the nonprofit corporations belonging to the target business group, whether they are related to the same person, and whether the inheritance tax and gift tax law are applicable to the public interest corporation. In addition, among the non-profit corporations, the inheritance tax and the gift tax law are limited to public corporations to submit general status, establishment status, appearance status, governance structure, stock ownership status,
If the nonprofit corporation whose reporting is missing during the investigation is found to have stock of affiliate companies, the plan will be reflected in the incorporation of affiliates and the calculation of internal stake in the appointment of large corporations. In addition, a non-profit corporation that has reported that it has been exempted from related persons who were formerly insured by the company will also take follow-up action to cancel the exclusion decision if it is judged that the requirement is no longer valid.
Mr. Kim said, "I will investigate a large group of public interest foundations at a meeting of five major group executives last month," he said. "Through basic research, we will gradually carry out measures that do not feel burdened by large corporations." Besides, the FTC official said, "There is a criticism that large corporate group public benefit corporations are being used as means of expanding control of the total number and total number of family members.” He said. The KFTC plans to conduct a so-called first-stage baseline survey and spend a month or so on companies to conduct a second phase of the survey in January. The second stage of the investigation will be based on voluntary cooperation from the subject of investigation based on the Basic Law of Administrative Investigation. However, it is expected that the contents will be grasped within the range necessary for establishing measures to restrain economic concentration on public benefit corporations under the inheritance tax and gift tax law.
Sejong city=By Kwon Dae-gyung kwon213@dt.co.kr