The in-house reserves accumulated at South Korea’s top 10 business groups reached 515.9 trillion won ($499.66 billion) as of the end of the first quarter this year, according to a report released by corporate tracker CEO Score on Wednesday.
The figure reflected a 90.3 percent increase from the 271 trillion won recorded five years ago, CEO Score said.
In-house reserves refer to a company’s capital surplus excluding tax payments and dividends, which are reserved for future investment.
Samsung Group saw its in-house reserves rise by the biggest clip, followed by Hyundai Motor, SK and LG. In-house reserves have recently become a bone of contention following new Finance Minister Choi Kyung-hwan’s hints that he may seek taxes on the reserves, to the dismay of local corporations.
