[경제]Relatives of the head of a chaebol are reduced to within 4 degrees…relatives even if a child is born out of wedlock

The range of relatives of the total number of conglomerates is narrowed to blood relatives within the 4th degree.

The Fair Trade Commission announced that the amendment to the Enforcement Decree of the Fair Trade Act, which contains these contents, passed the cabinet meeting today (20th).

According to the amendment, the range of total number of relatives is narrowed from 6 blood relatives and 4 blood relatives to 4 blood relatives and 3 blood relatives.

False or omission of relatives-related data is subject to sanctions by the Fair Trade Commission, but it was considered that it is not easy to identify distant relatives in detail.

With the passage of the amendment, it is expected that the number of relatives for which the total number of people must submit and disclose various materials will be reduced by half from 10,000 to 5,000.

However, if there is a person born out of wedlock recognized by the head of state by law, a new rule has been introduced to consider the birth father or mother as a relative.

The Fair Trade Commission explained that these regulations were introduced to eliminate regulatory blind spots as there are cases where they are major shareholders of affiliates and assist in controlling the total owner.

YTN Hyungwon Lee ([e-mail])

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