Korean Law in English
Laws › Monopoly Regulation and Fair Trade Act › CHAPTER IV RESTRICTIONS ON CONCENTRATION OF ECONOMIC POWER

Monopoly Regulation and Fair Trade Act — Article 32 (Inclusion in, or exclusion from, affiliates)

독점규제 및 공정거래에 관한 법률 제32조

This English translation is based on the Korean text effective 2026-05-12. The Korean law has since been amended (current version effective 2026-10-02) — check the Korean original.

(1) Where any ground for inclusion in, or exclusion from, domestic affiliates of a business group subject to disclosure arises, the Fair Trade Commission shall examine, at the request of the relevant company (including a related party to the relevant company; hereafter in this Article, the same shall apply) or ex officio, whether such company is qualified to be a domestic affiliate; thereby shall include the company in, or exclude it from, the domestic affiliates; and shall notify the company of such inclusion or exclusion.

(2) Where any ground for including a public interest corporation in related parties to the same person controlling a member company of a business group subject to disclosure or for excluding such corporation therefrom arises, the Fair Trade Commission shall examine, at the request of the relevant public interest corporation (including a related party to the relevant public interest corporation; hereafter in this Article, the same shall apply) or ex officio, whether such corporation is qualified to be a related party; thereby shall include the corporation in, or exclude it from, the related parties; and shall notify the corporation of such inclusion or exclusion.

(3) Where it is deemed necessary for the examination under paragraph (1) or (2), the Fair Trade Commission may request the relevant company or public interest corporation to submit necessary materials, such as the composition of its shareholders and executive officers, the status of debt guarantees, the status of loans, and the trading status.

(4) Upon receipt of a request for examination under paragraph (1) or (2), the Fair Trade Commission shall notify the person that has requested the examination of the results thereof within 30 days; provided, the period may be extended by up to 60 days, if deemed necessary by the Fair Trade Commission.

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