South korea: South Korea's antitrust watchdog has launched an investigation into two major retailers over alleged violations of the country's large-scale distribution law, industry sources said Monday. The Fair Trade Commission (FTC) sent investigators to the headquarters of CJ Olive Young Corp., the leading health and beauty retailer, and Asung Daiso Corp., operator of the discount chain Daiso, which runs around 1,600 stores nationwide.

According to Yonhap News Agency, the FTC is examining whether the companies violated the Act on Fair Transactions in Large Retail Business, sources familiar with the matter said. This law is designed to ensure fair competition and protect smaller businesses from the potentially overbearing practices of large retailers.

Olive Young and Daiso officials, meanwhile, said it is their understanding that the probe is part of a broader review of law compliance. Both companies have expressed their commitment to cooperating fully with the FTC's investigation to ensure they adhere to all regulatory requirements.