• Reuters

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A South Korean retail giant has shelved controversial expansion plans, while a large bank made hundreds of contract jobs permanent after President Moon Jae-in took office vowing to reform the family-run conglomerates that dominate the economy.

The 64-year-old liberal leader campaigned on a platform of curbing the power of the conglomerates, or chaebol. On Wednesday, he nominated an economist nicknamed “chaebol sniper” for his shareholder activist campaigns as head of the antitrust regulator.

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