] The average stake the chiefs of South Korea’s top 10 conglomerates in their subsidiaries fell this year, data showed on Sept. 4.
According to Chaebul.com, a website specializing in South Korean conglomerates, the chiefs of top 10 conglomerates held on average 0.11 percent of listed and unlisted subsidiaries within the group.
In comparison, the 10 tycoons held about 0.25 percent of their groups’ subsidiaries a year ago.
Samsung Electronics' Chairman Lee Kun-hee(left) and his the only son Jae-yong
The data also showed that the combined stake of the conglomerate leaders and their families had fallen 0.42 percentage points over the same period to come in at 0.31 percent.
Chaebul.com attributed the changes to M&A deals that led to changes in the total number of shares.
Of the concerned businessmen, the chiefs of Samsung Group, Hyundai Motor Group, SK Group, GS Group, Hyundai Heavy Industries Group and Hanwha Group saw their stake shrink. Samsung Electronics
chairman Lee Kun-hee
’s stake in Samsung affiliates fell from 2.24 percent to 2.22, while Hyundai Motor
’s Chung Mong-koo
saw his stake slide to 1.8 percent from 1.89 percent.
Lotte Group founder Shin Kyuk-ho, in contrast, saw his stake in Lotte companies rise from 0.05 percent to 0.5 percent. The jump was caused by stake held under borrowed names being placed under Shin.
By Choi He-suk (email@example.com