No. of conglomerate-affiliated firms declines: FTC
A person walks along the building of Samsung Group in southern Seoul, March 24, 2025. Yonhap
Korea's antitrust regulator said Tuesday the number of conglomerate-affiliated companies fell slightly from three months earlier, amid industrywide restructuring efforts in sectors such as construction and chemicals to improve profitability.
The country's 92 conglomerates held 3,233 affiliates as of Feb. 2, down by 42 from 3,275 tallied three months earlier, according to data from the Fair Trade Commission (FTC).
The FTC removed 102 firms from the list while adding 60 others.
SK Group removed the most number of affiliates, selling or absorbing a total of 34 affiliates.
Kakao Group, which operates popular messenger app Kakao Talk, offloaded four companies, including its film and content production firms.
Some companies acquired or established new firms in next-generation technologies and the clean energy sector to secure future growth engines, the FTC said.
Samsung Group newly formed two bio-tech affiliates, while LG Group acquired stakes in a domestic solar farm operator.
Under Korean law, conglomerates with assets of 5 trillion won ($3.82 billion) or higher are obligated to disclose the status of their businesses, along with details of large-scale internal trade.