hankyoreh

By Kim Kyung-rok　
　
Data by the Fair Trade Commission revealed Sunday that the Samsung Group has ballooned its asset holdings almost 60 percent over the past three years since President Lee Myung-bak took office in 2008. Samsung is the largest and representative chaebol, family-owned conglomerate, in South Korea. Most conglomerates have expanded greatly in terms of the number of affiliates and assets under the Lee administration. 　
According to the FTC data as of April 1, the number of Samsung Group’s affiliates increased 32.1 percent to 78 from 59 in 2008, with its assets going up 59.9 percent to 230.9 trillion won ($213 billion). Samsung’s assets are more than the combined assets of the second largest conglomerate Hyundai Motor Group amounting to 126.7 trillion won and the third SK Group’s 97 trillion won. Samsung accounts for 37.1 percent of the combined assets of the top five, which is tallied at 622.5 trillion won.
Hyundai Motor Group also saw its affiliates grow from 36 to 63 and its assets increase 71.2 percent in the same period. SK, LG and Lotte increased their assets by 34 percent, 58.7 percent and 76.8 percent, respectively. Non family owned conglomerate POSCO’s assets jumped from 31 trillion won to 69.8 trillion won and its affiliates went up from 30 to 61.　
The top 20’s combined asset holdings grew 54.2 percent from 683.6 trillion won to 1,054.4 trillion won and the number of their affiliates went up 36 percent to 922 from 678 three years earlier.
Experts attributed those leading conglomerates rapid expansion to their aggressive M&A drives and the Lee government’s business-friendly policies including corporate tax reductions.
　　
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