Tip:
Highlight text to annotate it
X
As part of efforts to stamp-out irregular business practices in the nation, the government
plans to prohibit so-called "circular shareholding" involving Korea's conglomerates.
A bill proposed by a National Assembly committee on Monday... would forbid major shareholders
of conglomerates from controlling subsidiaries despite holding a small stake.
The bill falls in line with President Park Geun-hye's pledge to support the country's
sustainable growth drive through fair competition, and has bipartisan support.