1. Reasons for Amendment

□ The “same person” system has been in practice since 1987 without express regulations regarding the same person.

 ㅇ Although there were few variables in the early stages of the system, changes in the policy environment have sparked various issues associated with same person identification such as death/unconsciousness and other personal issues, the emergence of business entities in new industry sectors, and dual nationality issues with second- and third-generation children.

□ It is necessary to increase predictability and acceptance among law-abiding persons by expressly stipulating regulations concerning the same person test and verification procedure, and to justify business group policies by enhancing the impartiality and transparency of same person tests.

2. Major Provisions

□ Prescribe that the same person test shall be conducted using the following five criteria, and that the Fair Trade Commission shall consider these criteria to determine the same person of a business group.

 ㅇ (1) The largest investor of the highest-ranked company (2) The highest-ranked person of the business group (3) A person with dominant influence on the management of the business group (4) A person internally and externally perceived to be the representative of the business group (5) A person deemed to be the same person of the business group in accordance with the same person succession policy