Number of chaebol subsidiaries rises

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Number of chaebol subsidiaries rises

The number of subsidiaries of Korea’s top 30 conglomerates increased slightly last year as they sought to diversify their businesses despite an economic slowdown, data showed yesterday.

The number of their subsidiaries stood at 1,221 in December 2012, compared with 1,197 in January in that year, according to data compiled by Ceoscore, a Web site that tracks the country’s top 10 conglomerates, known as chaebol, as well as financial firms and state-run companies.

CJ Group, a Korean food and entertainment conglomerate, topped the list by adding 16 subsidiaries during the period due to its takeover of Korea Express. CJ Group took 16 companies related to CJ Korea Express, formerly known as Korea Express, under its wing last year, according to the Web site.

Samsung Group, the country’s largest family-controlled conglomerate, had 81 affiliates under its wing as of December, up two from January last year, according to the data.

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