Conglomerate’s logistics·SI affiliate shares internal transaction with 中企… The Fair Trade Commission promotes self-regulation

Fair Trade Commission of the Government Complex Sejong. (Photo = E-Daily DB)

[세종=이데일리 한광범 기자] In the future, a plan will be promoted to allow large companies’ logistics and system integration (SI) affiliates with a high proportion of internal transactions to share their work with external SMEs. However, it is expected that it will be a self-imposed regulation rather than a mandatory regulation.

According to government ministries on the 10th, Chairman Cho Sung-wook of the Fair Trade Commission will meet with logistics companies belonging to large companies and their shipper affiliates to hold a work opening agreement ceremony and announce work sharing policies. It is known that logistics companies belonging to several large companies, including Hyundai Glovis, a logistics company belonging to the Hyundai Motor Group, will participate in the ceremony.

Due to the revision of the Fair Trade Act last year, the standards for companies subject to private interest deprivation regulations were unified from the current total number of shares listed 30% and unlisted 20% to 20% for both listed and unlisted companies. Subsidiaries owned by these companies more than 50% are also subject to regulation.

Accordingly, subsidiaries of large corporations that have barely deviated from the FTC regulatory network with a stake of more than 20% to less than 30% of the total number of households will be subject to regulation from December this year. The number of companies subject to self-interest regulation will increase from 210 to 591.

It is reported that the Fair Trade Commission will use the results of dividing internal transactions with SMEs to evaluate the implementation of the Fair Trade Agreement and give incentives such as exemption from ex officio investigation to the best companies. Although this norm is not enforceable, it is expected that it will be able to prevent misconduct.

However, it is pointed out that it is not known whether the actual work sharing can be carried out, as internal transactions are still significant despite the continuous sanctions against workers. In fact, as of 2019, the amount of internal transactions of the business groups subject to disclosure amounted to 19.67 trillion won.

An official from the FTC said, “We plan to induce work sharing centering on logistics affiliates,” and “We plan to expand to other fields such as SI.”

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