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Photo = Korea Fair Trade Commission (KFTC) |
[Alpha Biz= Kim Jisun] The Korea Fair Trade Commission (KFTC) has initiated an on-site investigation into SM Group over suspected unfair internal transactions. SM Group, which operates in the shipping and construction industries, is suspected of violating the Fair Trade Act during internal transactions between its subsidiaries.
According to industry sources on Tuesday, the KFTC's Internal Transactions Monitoring Division dispatched investigators to SM Group's headquarters on February 10. The on-site investigation has been ongoing for two days and is expected to continue until the end of this week.
The KFTC is reportedly investigating claims that SM Group engaged in unfair internal transactions, offering advantageous terms to its subsidiaries to channel excessive economic benefits their way.
The investigation reportedly targets multiple subsidiaries, including SM Line, Samhwan Corporation, SM Gyeongnam Construction, Samra, Daehan Shipping, and SMAMC Investment & Loan.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
