[Alpha Biz=(Chicago) Reporter Paul Lee] Huh Chang-soo, honorary chairman of GS Group, was sanctioned by the Fair Trade Commission for omitting some of the data when submitting designated data.

According to the Fair Trade Commission on the 8th, the first subcommittee of the Fair Trade Commission recently voted to issue a warning against Huh's false submission of designated data.

Designated data refers to data such as the status of affiliates, relatives and executives that the FTC receives from the same person every year to designate a group of companies subject to disclosure.

Chairman Heo submitted a total of five designated data from 2018 to 2022, confirming that he omitted the families of two relatives, who are fourth cousins of blood relatives, from the current status of relatives.

"When Chairman Huh submitted the designated data, he submitted it differently from the facts without justifiable reasons," the FTC said. "This constitutes an act of submitting false data."

However, considering that Chairman Heo was unlikely to be aware of the submission of false data, that the relatives did not own and control GS's company, and that serious violations of regulations on restrictions on acts were not combined, the level of disposition was decided as a warning.

GS avoided expressing its official position on the question of Alpha Economy.

 

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