A quarrel over possible monopoly and oligopoly of reinforcing bars in the domestic market is being raised in connection with the sale of Hanbo Steel to other reinforcing bar maker, but such a worry dose not appear to get realized. Several major domestic steelmakers are currently showing interest in acquiring Hanbo Steel and some overseas firms are seeking to make inroads into the Korean market through the takeover of the ailing steelmaker. Among the domestic firms, INI Steel, Dongkook Steel and Korea Iron & Steel have been emerging as the most prospective buyers. If any of these firms takes over Hanbo Steel, however, it could bring about a quarrel over the monopoly and oligopoly of reinforcing bars in the domestic market. Nevertheless, the Fair Trade Commission (FTC) is highly likely to approve the deal in the interest of helping promote a stable industrial restructuring as seen before in the similar cases.
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