[Alpha Biz=(Chicago) Reporter Kim Jisun] The Fair Trade Commission caught three companies - IS Dongseo, SL Central and Insun ENT - for violating regulations on restrictions on activities, including holding companies and was fined.
The Fair Trade Commission decided on the 26th to impose a total of 1.839 billion won in corrective orders and fines on IS Dongseo, SLL and Insun E&T, a subsidiary of a general holding company, for violating restrictions on acts of holding companies and others under the Monopoly Regulation and Fair Trade Act (Fair Trade Act).
IS Dongseo is a subsidiary of IS Holdings, a general holding company. It violated the restrictions on subsidiary activities by owning 25 billion shares (60.24% stake) of the domestic affiliate Asteran Milestone Private Equity Co., Ltd., not the grandson company, from November 2021 to February 2023, and 5.4515 billion shares (60.57% stake) of CC Green Growth No. 1 Private Investment Co., Ltd. from October 2022 to June 2023.
Insun ENT is a grandson company of IS Holdings Co., Ltd., a general holding company. It owned 3.5435 billion shares (39.37% stake) of its subsidiary C.C. Green Growth No. 1 Private Equity Investment Co., Ltd. from October 2022 to June 2023, violating restrictions on the act of its grandchildren.
SLL is a subsidiary of general holding company Contentree Central. It owns 5 billion shares (a stake of 21.67-25%) of Beyond Music No. 1 Private Equity Investment Joint Venture, a domestic affiliate that is not a grandson company, from April 2021 to March 2023, violating restrictions on subsidiary activities.
In response, the FTC decided to impose a ban on future activities and fines of 1.479 billion won, 141 million won and 219 million won on IS Dongseo, Insun ENT and SLL, respectively.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
