[
THE INVESTOR] The retained earnings of the country’s top 30 conglomerates have nearly tripled since 2006, government data showed on July 25.
The list of 30 excludes state-run entities, and conglomerates that are not run by an “owner,” like
Samsung,
Hyundai Motor and other leading conglomerates.
According to the National Assembly Budget Office data obtained by Rep. Kim Jong-min of the main opposition Minjoo Party of Korea, the retained earnings of the top 30 conglomerates came to 478 trillion won (US$420 billion) at the end of last year, up 275 percent from the 127.4 trillion won in 2006.
Of the total, 370.4 trillion won was held by the top five conglomerates, the data showed. The retained earnings of the top five conglomerates had increased 280 percent, going from 97.3 trillion won in 2006 to 370.4 trillion won last year. The majority of the top five groups’ retained earnings were held by the top two conglomerates. The largest group held 143.4 trillion won, while the second largest had 101.1 trillion won, the data showed.
By Choi He-suk (
cheesuk@heraldcorp.com)
