Top 5 Chaebol More Dominant in MarketplaceMany markets became more oligopolistic as the five biggest chaebol groups continued their dominance in virtually every corner of the Korean economy. On December 30, the Fair Trade Commission(FTC) announced 102 market-dominating items and 324 market-dominating companies.
Among them, 58 items and 107 companies belong to the five biggest chaebol. In market-dominating goods and services and companies, the weight of the five biggest chaebol actually increased from 39.8 and 30.9 percent to 45 and 33 percent, respectively.
Cho Hak Kuk, head of the FTC's Monopoly Regulations Bureau, said, 'In the survey results, 77 companies out of the 721 subsidiaries of the 30 largest conglomerates have more than one monopolistic or oligopolistic item. The weight of the top five is getting heavier.'
The FTC designates a market-dominating good or service if a company has more than 50 percent of the total market share or three companies combine to have more than 75 percent of the market share.
The number of monopolistic items and companies has steadily increased since the FTC first started classifying markets in 1981.
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