Korea's Fair Trade Commission said that it will complete its reforms of the country's large, family-run conglomerates within three to five years. <br /> The head of the FTC Kim Sang-jo made the announcement on Thursday, at a meeting with the leaders of Korea's top ten business groups, including Samsung Electronics, Hyundai Motor and LG.<br />Kim said the FTC will decide the direction and pace of the reforms… after thoroughly discussing them with all sides. <br />At the meeting, Kim discussed ways to improve the outdated corporate governance structure and transaction measures. <br />He also asked for the conglomerates' thoughts on revising the Fair Trade Act. <br />
