April 25, 2024

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[THE INVESTOR] Cash and cashable assets kept by conglomerates have expanded over the years, by as much as 13 times for Samsung Electronics and five times for Hyundai Motor over the past eight years, data unveiled by Rep. Park Kwang-on of the Democratic Party of Korea showed during a parliamentary audit, Oct. 19.

Between 2008 and 2016, the cashable assets held by the top 100 firms listed on the Kospi market surged 350.8 percent to reach 127.78 trillion won ($112.73 billion).

Park contended that accumulating cash does not benefit the company in the long run, urging greater investments.

(theinvestor@heraldcorp.com)