39 chaebol minors own $85 million worth of shares

September 17, 2015
Lotte Tower (NEWSis)

Lotte Tower (NEWSis)

Thirty-nine minors of conglomerate-owner families hold shares of affiliates worth about 100 billion won ($85 million), data shows.

According to data from the Fair Trade Commission — requested by the National Assembly’s National Policy Committee’s Rep. Shin Hak-yong of the New Politics Alliance for Democracy — minors of 15 chaebol-group families owned shares valued at 96.2 billion won as of Sept. 8 in the 2014 fiscal year. This equates to each holding shares worth some 2.5 billion won.

Six relatives of the GS Group that were under 18 owned the largest amount at 71 billion won. This means each owns an average of 11.8 billion won of shares. They were found to have shares in eight listed and unlisted affiliates, such as the group’s construction arm, GS E&C, and investment company Seungsan.

As for construction materials group KCC, one relative owned 10.7 billion won of KCC shares.

In the case of Doosan Group, three minors held a total of 3.7 billion won of shares in Doosan, Doosan Engineering & Construction and Neo Holdings.