Truthful Commerce Fee Names 88 Giant Conglomerates: HD Hyundai Overtakes GS and Rises to eighth Place

Truthful Commerce Fee names 88 giant conglomerates HD Hyundai overtakes GS and rises to eighth place… Dongwon CEO Kim Jae-cheol → Kim Nam-jeong, first named Paradise-Sono Inter… The identical group company at Coupang and Dunamu

Hive, the group of BTS and New Denims, was the primary leisure firm to be named a ‘huge firm’ with complete property exceeding 5 trillion gained. As Hive President Bang Si-hyuk grew to become the pinnacle (the one particular person), the possession standing of President Bang’s household was additionally revealed.

Coupang, which grew to become the No. 1 distribution firm in Korea, jumped 18 locations within the asset rating as its complete property elevated by greater than 6 trillion gained in only one yr. Coupang President Kim Beom-seok, who has sparked controversy over preferential therapy, has averted being named boss for 4 years.

● The primary host company was born.

On the fifteenth, the Truthful Commerce Fee introduced this yr’s ‘outcomes of designation of enterprise teams (giant enterprise teams) topic to publication’ with the next info. This yr, there are 88 giant conglomerates with property of 5 trillion gained or extra, a rise of 6 from final yr. Amongst them, there have been 48 mutual funding restricted organizations (outdoors organizations) with property exceeding 0.5% (KRW 10.4 trillion) of nominal gross home product (GDP). They have to adjust to varied disclosure obligations and are prohibited from misappropriating non-public earnings and consolidated/collective dividends.

Hive is a manufacturing firm that has been added to the big conglomerate group. Hive, which has entered a full-fledged progress path attributable to BTS’s world reputation, has grown in measurement with the success of 4th era woman teams corresponding to New Denims. Belongings, which gained 4.81 trillion on the finish of 2022, jumped about 9% to five.25 trillion gained on the finish of final yr. That is the primary time {that a} main firm within the leisure business has been named as a serious conglomerate. There was a current battle between Chairman Bang Si-hyuk and Min Hee-jin, CEO of Adore, a relative, which led to inside issues corresponding to a pointy drop within the inventory value, however as anticipated by the market , was largely recognized. a conglomerate group. President Bang was appointed because the director.

Sono Worldwide (previously Daemyung Sono), recognized for Paradise and Resorts, which focuses on the on line casino and lodge business amid the COVID-19 pandemic, was additionally introduced as a serious conglomerate. That is in distinction to the earlier pattern the place giant conglomerates targeted on conventional smoke stack industries corresponding to manufacturing. There may be an evaluation that Kakao and Naver within the discipline of data expertise (IT) have turn out to be new giant companies since 2016, and firms within the fields of tradition and leisure are additionally rising their progress pace.

Hyundai Marine & Fireplace Insurance coverage, Youngone, Daishin Securities, and Wonik had been additionally named as main conglomerates. Ecopro, a secondary battery firm that grew to become half of a big conglomerate for the primary time final yr, was included within the rising group, and its asset rating jumped from 62nd to forty seventh Among the many 10 largest firms, HD Hyundai rose from ninth to eighth in asset rating, whereas GS fell from eighth to ninth, reversing the order. At Dongwon Group, the identical particular person modified from Honorary Chairman Kim Jae-cheol to Chairman Kim Nam-jung, the second son, who took workplace in April. That is the primary time for the reason that institution of the corporate that the one particular person in Dongwon Group has modified.

● Coupang Kim Beom-seok, recognized as head injury

Starting with the nomination of huge conglomerate teams this yr, the Truthful Commerce Fee established and laid the groundwork for the nomination of foreigners as bosses. Nevertheless, Coupang President Kim Beom-seok, a Korean-American, has averted being named CEO for the fourth yr in a row. Within the meantime, Coupang has confronted an fairness dispute as a result of Coupang Company, not Chairman Kim, was named as the only real particular person. Dunamu, which operates the digital asset alternate Upbit, grew to become the only real company to switch Chairman Music Chi-hyung beginning this yr.

Relating to the rationale for contemplating the Coupang company as the identical particular person, an official from the Truthful Commerce Fee stated, “There isn’t a distinction within the scope of the company whether or not it’s a company or a person, and Chairman Kim has no inventory. of every other associates apart from Coupang.” He added, “Additionally, the family members of Chairman Kim don’t personal shares and will not be concerned in administration. Nevertheless, some say that the youthful brother of Chairman Kim and his spouse in control of logistics and human assets at Coupang and obtain a mixed annual wage of 700 to 800 million gained, so they could really take part in administration Coupang fund, which was forty fifth a yr in the past, to twenty seventh this yr.

If there’s a head, not like when the corporate is a sole proprietorship, guidelines prohibiting non-public revenue might be added. You shouldn’t assign work to an organization wherein your family members have a powerful curiosity. Moreover, when the Truthful Commerce Act is breached, the person, not the organisation, is topic to sanctions.

Sejong = Narrator Music Hye-mi 1am@donga.com