SEOUL, June 30 (Korea Bizwire) — A series of conglomerate affiliates are carrying out massive capital increases or experiencing credit rating downgrades due to a rise in their financial burden. SK Innovation Co. held a board meeting last week where it decided to increase paid-in capital by 1.18 trillion won (US$901 million) through shareholder allocation [...]
SEOUL, Feb. 3 (Korea Bizwire) — The number of South Korean companies affiliated with large business groups under tight supervision rose by 34 in the three months ending Jan. 31 as conglomerates expanded new businesses, the antitrust regulator said Thursday. The total number of affiliates on the Fair Trade Commission (FTC) watch list reached 2,738 [...]
SEOUL, June 3 (Korea Bizwire) — Transactions between affiliates of South Korea’s family-controlled conglomerates have fallen more than 30 percent over the past two years on tough regulations, data showed Wednesday. The value of unfair in-house transactions by 208 conglomerate subsidiaries came to 8.8 trillion won (US$7.2 billion) last year, down 32 percent from two [...]
SEOUL, Jul. 8 (Korea Bizwire) — The Korea Electric Power Corp. (KEPCO) plans to sell stakes in its two affiliates, officials at the state-run utility company said Monday, in a bid to improve its financial status. The two affiliates are KEPCO Engineering & Construction Co. (KEPCO E&C) and Korea Electric Power Industrial Development (KEPID). In [...]