[Alpha Biz= Kim Jisun] Seoul, South Korea — Noroo Holdings Co., Ltd. (KOSPI: 000320) announced on August 20 that it has been officially exempted from classification as a holding company under the Monopoly Regulation and Fair Trade Act, following notification from the Korea Fair Trade Commission (KFTC).
The exemption comes after Noroo Holdings filed a report with the KFTC on August 13 requesting exclusion from the regulation. The Commission confirmed the decision on August 20, with the exemption retroactively applied as of August 14, the date of filing.
A company representative explained that the decision was due to changes in the asset threshold requirement for holding companies. The KFTC raised the threshold from KRW 100 billion to KRW 500 billion in 2017, while granting a grace period until June 2027 for companies with assets between KRW 100 billion and KRW 500 billion. As of June 2024, Noroo Holdings’ standalone assets totaled KRW 390.2 billion, placing it within the exemption criteria.
Prior to the decision, Noroo Holdings served as a holding company overseeing eight subsidiaries—including Noroo Paint (KOSPI: 090350), Noroo Auto Coating, and Noroo Chemical—and two second-tier affiliates, such as Noroo Coil Coating.
Meanwhile, KCC Corp. (KOSPI: 002380) disclosed on August 12, a day before Noroo Holdings filed for exemption, that it had acquired a 7.17% stake in Noroo Holdings, becoming its third-largest shareholder.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
