Fair Trade Commission (FTC) begins investigating allegations of intentional omission by DB Group’s subsidiaries

Investigating the affiliation of Donggok Foundation, Samdong Heungsan, and Viltek,
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DB Group CI
[Provided by DB Group],
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,’ (Sejong=Yonhap News) Reporter Park Jaehyun – The Fair Trade Commission has launched an investigation into allegations that DB Group omitted some affiliates when submitting designation materials.’,
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,” According to the industry on the 26th, the Fair Trade Commission is investigating whether Donggok Social Welfare Foundation established by DB Group affiliates and ‘Samdong Heungsan’ and ‘Viltek’ in which this foundation holds shares are affiliates of DB Group.”,
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,’ Each year, before designating large business groups (with total assets of over 5 trillion won), the Fair Trade Commission receives designation materials from each group. Falsification or omission of affiliate status and other information in the designation materials constitutes a violation of the Fair Trade Act.’,
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,’ In cases of minor issues such as accidental omissions, it usually ends with a warning, but in cases where intentionality and seriousness are recognized, it can lead to a criminal complaint.’,
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,’ DB Group has been submitting designation materials excluding Donggok Social Welfare Foundation, Samdong Heungsan, Viltek, and others as affiliates to the Fair Trade Commission.’,
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,’ The Fair Trade Commission plans to examine whether these companies qualify as affiliates under the Fair Trade Act and whether there was intentionality in the omissions.’,
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,’ A Fair Trade Commission official stated, “We cannot confirm the details of the investigation at this time,” and added, “If a violation of the law is confirmed, we will respond strictly.”‘,
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,’ [email protected]’,
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