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Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] The Korea Fair Trade Commission (KFTC) has imposed fines totaling KRW 658.25 million (approximately USD 490,000) on 50 business groups for violations of public disclosure obligations. The number of such violations by large conglomerates has been rising over the past five years.
According to the KFTC’s “2025 Review of Disclosure Compliance by Public Business Groups,” released on the 28th, 146 violations were detected across 130 affiliates of the 50 groups. The number of violations has steadily increased from 131 cases in 2021. This year, the KFTC conducted inspections of 3,301 affiliates, 232 public interest foundations, and related individuals across 92 designated business groups.
Most violations were related to “Corporate Group Status Disclosures” (123 cases). The infractions included delayed disclosure (45.5%), omissions (26%), and false reporting (23.6%). Delayed disclosures were largely attributed to inexperience among internal corporate staff.
By company, Janggeum Shipping recorded the highest number of violations with 13 cases, followed by Korea & Company Group (8), Daekwang (8), Eugene Group (7), and Global Sea-A (7). Janggeum Shipping also incurred the largest fine at KRW 269 million.
Several business groups were found to have violated disclosure obligations for three consecutive years. Notable examples include Korea & Company Group (28 cases over three years), Taeyoung (24), Janggeum Shipping (21), and Hanwha (13). The KFTC indicated plans to impose heavier fines on companies that repeatedly breach disclosure regulations.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
