Large business groups boasting assets exceeding 5 trillion won have expanded their influence in the automotive and transportation sectors. (Image courtesy of Yonhap)
SEJONG, Nov. 10 (Korea Bizwire) – Over the past three months, large business groups boasting assets exceeding 5 trillion won have expanded their influence in the automotive and transportation sectors. The Korea Fair Trade Commission recently unveiled the “Status of Changes in Companies Belonging to Large Business Groups (August-October),” revealing that as of November 1, the number of companies affiliated with these groups has grown to 3,084, indicating a net increase of one since three months ago.
This growth is attributed to the addition of 62 companies, achieved through the establishment of new ventures (42) and the acquisition of stakes (19). Simultaneously, 61 companies were no longer part of the group, either due to closure and liquidation (20) or the sale of stakes (12).
Notably, 12 of the newly affiliated companies are in the transportation sector, encompassing automobiles and railroads. KG Mobility, for instance, secured a stake in the electric bus manufacturer Edison Motors, bringing it under its corporate umbrella. Edison Motors’ subsidiaries, including Edison Health Train, Edison AI, and Edison Power, were also integrated.
Hyundai Motor, on the other hand, launched Estland and GTC to oversee its ventures in the railroad industry. SK made strategic moves by acquiring Goodsflow, a logistics brokerage service, and venturing into waste disposal. SK merged with Renewone, a waste collection and treatment company, and acquired a stake in Glencoe, a waste treatment company.
Taeyoung made significant strides in waste management by establishing EcoBiotronics Central and Smart Sangra, both focusing on waste collection and treatment.
Among the companies not affiliated with the large business groups, 12 were involved in construction or real estate development.
Kevin Lee (kevinlee@koreabizwire.com)
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