The Fair Trade Commission(FTC) has announced that Shin Bong-sam will head its new investigative bureau focused on conglomerates.
 
The FTC said on Thursday that Shin, former Director-General of the FTC’s Antimonopoly Bureau, was appointed as the head of the industry watchdog’s business group bureau.
 
The business group bureau is a reincarnation of the FTC’s former investigative unit, which since its creation under the Kim Dae-jung administration had monitored conglomerates until it closed in 2005 due to strong protest from major firms.
 
The new bureau will have four divisions, including one that will monitor internal transactions or unfair support provided by conglomerates for their affiliates. A total of 40 officials will work for the bureau.