Joo Byung-ki Nominee Warns of 'Serious' Risks as Large Conglomerates Increase Circular Shareholding via Overseas Affiliates

Joo Byung-ki, nominee for South Korea's Fair Trade Commission chair, warned that large conglomerates are increasingly using overseas affiliates to form circular shareholding structures, calling it a serious regulatory loophole likely to grow unless the Fair Trade Act is amended.