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The families who effectively own 43 of Korea¡¯s big conglomerates or Chaebol have on average a 9.52 percent stake in subsidiaries but exercise voting rights representing 40.8 percent of shareholders. The Fair Trade Commission on Sunday released analysis of the ownership and management structure at 43 conglomerates with assets over W2 trillion affected by a restriction preventing cross-investment among affiliates.
That meant the ratio of voting right to shares of a Chaebol owner family was 6.68:1, slightly down from last year¡¯s 6.71 and meaning they exercised a 39.72 percent voting right for an average 9.17 percent stake. However, in 11 conglomerates with over W10 trillion in assets that come under a cap whereby business groups cannot invest more than 25 percent of their net worth in affiliated and non-affiliated companies, the ratio was 7.54:1, up from 7.47 last year. In the Samsung Group, the ratio stood at 8.10:1, far higher than 6.91 last year.
For Hyundai Motor, the ratio was 5.75, for the SK Group 15.6, for the LG Group 6.78 and for the Lotte Group 3.91.
(englishnews@chosun.com )
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