Subsidiaries of Top-30 Chaebols Shrank by 9 in April
During April, the number of subsidiaries of the top-30 conglomerates or chaebol shrank by nine to 677.The Fair Trade Commission (FTC) said on May 3 the nation's top-30 chaebols started up 4 new firms, while reducing 13 through M&As and asset sales.
Hyundai Group cut three subsidiaries by merging Hyundai Motor Service to Hyundai Motor and spinning off two others.
Samsung shed two small affiliates and almost the same for LG. Kumho absorbed one company, while Halla sold the assets of one unit.
Lotte, Hanjin, Hanwha and Kumho launched one subsidiary each.
Shang-bok Shim : simsb@joongang.co.kr
with the Korea JoongAng Daily
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