South Korea's Korea Fair Trade Commission will tighten penalties for publicly disclosed enterprise groups that repeatedly breach corporate disclosure obligations. Under rules taking effect on the 9th, penalties will rise 10% for one repeated violation, 30% for two and 50% for three or more, replacing the current increases of 10% for four to six violations and 20% for seven or more. The rules apply to business groups with assets of at least 5 trillion won ($3.72 billion), which must disclose affiliate-company status, ownership stakes held by controlling families and certain large-scale internal transactions. The KFTC also removed reductions for short disclosure delays and first-time violations, saying the changes will improve compliance and market monitoring of business-group ownership and control structures.