In 2024, 48 business groups in South Korea were subject to limitations on cross-shareholding. Under South Korea’s Monopoly Regulation and Fair Trade Act, a domestic member company of a business group is not allowed to acquire or hold shares of an affiliated company that in turn acquires or holds shares in that member company. This regulation applies to domestic affiliates of corporate groups whose total assets amount to ten trillion South Korean won or more.
Family-owned conglomerates in South Korea
There is no specific definition of South Korean chaebols, which are also known as large family conglomerates. They can nevertheless be characterized as large business groups controlled by members of the founding family and to which numerous subsidiaries are subordinate. Each year, the Korea Fair Trade Commission designates large business groups subject to disclosure obligations and cross-shareholding restrictions. This is to prevent excessive concentration of economic power on such large companies and to make information about them available to the public.
South Korea’s leading chaebol groups
Samsung Group, SK Group, Hyundai Motor Company, and LG Group together form the largest chaebol groups in South Korea. Samsung Group was South Korea’s largest chaebol by total assets and revenue in recent years. These top four groups account for a large part of the South Korean stock market's value.
Number of large business groups subject to limitations on cross-shareholding in South Korea from 2017 to 2024
The South Korean Monopoly Regulation and Fair Trade Act prohibits circular shareholding of business groups with total assets of ten trillion South Korean won or more. According to the law, a member company of a business group subject to limitations on circular shareholding "shall neither acquire nor hold shares of any affiliate that, in turn, acquires or holds shares of that member company."
The threshold for the total assets of business groups subject to this regulation was increased from five to ten trillion South Korean won in September 2016.
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Statistics Korea. (May 27, 2024). Number of large business groups subject to limitations on cross-shareholding in South Korea from 2017 to 2024 [Graph]. In Statista. Retrieved December 04, 2024, from https://www.statista.com/statistics/1312962/south-korea-conglomerates-under-cross-shareholding-regulations/
Statistics Korea. "Number of large business groups subject to limitations on cross-shareholding in South Korea from 2017 to 2024." Chart. May 27, 2024. Statista. Accessed December 04, 2024. https://www.statista.com/statistics/1312962/south-korea-conglomerates-under-cross-shareholding-regulations/
Statistics Korea. (2024). Number of large business groups subject to limitations on cross-shareholding in South Korea from 2017 to 2024. Statista. Statista Inc.. Accessed: December 04, 2024. https://www.statista.com/statistics/1312962/south-korea-conglomerates-under-cross-shareholding-regulations/
Statistics Korea. "Number of Large Business Groups Subject to Limitations on Cross-shareholding in South Korea from 2017 to 2024." Statista, Statista Inc., 27 May 2024, https://www.statista.com/statistics/1312962/south-korea-conglomerates-under-cross-shareholding-regulations/
Statistics Korea, Number of large business groups subject to limitations on cross-shareholding in South Korea from 2017 to 2024 Statista, https://www.statista.com/statistics/1312962/south-korea-conglomerates-under-cross-shareholding-regulations/ (last visited December 04, 2024)
Number of large business groups subject to limitations on cross-shareholding in South Korea from 2017 to 2024 [Graph], Statistics Korea, May 27, 2024. [Online]. Available: https://www.statista.com/statistics/1312962/south-korea-conglomerates-under-cross-shareholding-regulations/