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[Alpha Biz=(Chicago) Reporter Paul Lee] The Fair Trade Commission has launched an on-site investigation into Youngone Trading Group, which is suspected of providing unfair support to the owner family.
According to the industry on the 20th, the Fair Trade Commission conducted an on-site survey of Youngone Trading, Youngwon Outdoor, and YMSA, the actual holding company of Youngwon Trade Group.
About 10 investigators from the FTC's corporate group inspection bureau reportedly participated in the field survey.
Youngone Trading Group is suspected of unfair support and unfair internal transactions against the family of Sung Ki-hak Group chairman.
In March, Youngone Trading Vice Chairman Sung Rae-eun received half of the YMSA stake owned by his father, Chairman Sung Ki-hak, and borrowed most of the 85 billion won in gift tax from YMSA and paid it in cash.
YMSA sold the building in Manchon-dong, Daegu, which was used as the headquarters building at the time, for 60 billion won to finance the loan. Since then, the buyer of the building has been found to be Youngwon Trading, another company in the group.
An FTC official said, "We cannot confirm whether the investigation is conducted or not." ．
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
