Starting from Thursday, businesses that buy companies whose transactions are worth more than 600 billion won must file a report with the Fair Trade Commission(FTC).

The FTC disclosed the change on Wednesday, which was pre-announced in June. 

Currently, it is only mandatory to report purchases of businesses whose assets or sales exceed 30 billion won. 

The change means that firms with more than 600 billion won in transactions must be declared even if they have less than 30 billion won in assets or sales. 

The revision was made to take into account cases in which businesses, though small in size, could influence market competition given their large growth potential.