The country's top antitrust regulator Korea Fair Trade Commission (KFTC) could probe Samsung Life Insurance for violating shareholder regulations in allegedly providing improper benefits to another affiliate.
It is currently facing punitive measures by financial authorities on the same allegation.
The KFTC said it received filings by a local civic group Solidarity for Economic Reform last week and is considering whether to open a probe into Samsung Life Insurance for allegedly providing improper benefits to another affiliate.
It is alleged that Samsung's life insurance unit exempted the IT service provider Samsung SDS from paying indemnities for failing to complete a 156 billion won project on time.
In a 156.1 billion won contract that Samsung Life signed with Samsung SDS in 2015, the latter is required to set up an enterprise resource planning (ERP) system to manage business processes by April 2017.
The project was not completed until October 2017.
Samsung Life subsequently failed to file 15 billion won in indemnities against Samsung SDS for the delay.
Financial authorities determined that Samsung's life insurance affiliate, which owns stakes in Samsung SDS, decided to sustain losses for the latter’s benefit.
This is seen as a possible violation of regulations that limit transactions by major shareholders.
In December 2020, the FSS decided to sanction Samsung Life for the move, in addition to other issues concerning insurance payments.


Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient
Court Allows Expert Testimony Linking Johnson & Johnson Talc Products to Ovarian Cancer
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine
Thailand Inflation Remains Negative for 10th Straight Month in January
Federal Judge Signals Possible Dismissal of xAI Lawsuit Against OpenAI
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains
U.S. Stock Futures Slide as Tech Rout Deepens on Amazon Capex Shock
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering
Japan Economy Poised for Q4 2025 Growth as Investment and Consumption Hold Firm
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns
Jerome Powell Attends Supreme Court Hearing on Trump Effort to Fire Fed Governor, Calling It Historic
Supreme Court Signals Skepticism Toward Hawaii Handgun Carry Law
Instagram Outage Disrupts Thousands of U.S. Users
Silver Prices Plunge in Asian Trade as Dollar Strength Triggers Fresh Precious Metals Sell-Off
Trump Endorses Japan’s Sanae Takaichi Ahead of Crucial Election Amid Market and China Tensions
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 



