萬國法律事務所

At its 1,797^th Committee Meeting held on April 8, 2026, the Fair Trade Commission (FTC) resolved that the proposed merger between  E.SUN Financial Holding Co., Ltd. (E.SUN) and Mercuries Life Insurance Co., Ltd. (MLI) does not raise significant competition concerns. Consequently, the FTC has decided not to prohibit the transaction.

As E.SUN's subsidiaries primarily operate in banking and securities while MLI focuses on life insurance, the merger incorporates elements of both conglomerate and vertical integration. Following the transaction, E.SUN will maintain a presence in both the provision of insurance products and their distribution channels.

Regarding the vertical merger, the FTC concluded that the merger would not increase economic incentives for vertical foreclosure, and the merger is unlikely to result in market foreclosure or the exclusion of other competitors. Regarding the conglomerate aspect of the merger, the FTC determined that the merger would not significantly alter the competitive landscape of the relevant markets. Overall, the FTC concluded that the proposed merger does not involve significant anticompetitive effects.