April 26, 2024

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[THE INVESTOR] Slightly over 1 in 10 subsidiaries of Korea’s top 10 business groups are listed as foreign-invested companies, a market tracker said on Dec. 18.

As of end-November, 91 of the groups’ 665 units, or about 14 percent of the total, were registered with the government as foreign-invested corporations, according to Chaebul.com.

Those companies include Hotel Lotte, Lotte Chemical, Hotel Shilla and Hyundai Glovis. The number is up 34 from 2016.

Under Korean law, foreign-invested companies refer to those in which offshore investors have a stake of 10 percent or more. They benefit from a range of tax breaks and other incentives.

Lotte Group, Korea’s No. 5 family-controlled conglomerate, had the largest number of 28 foreign-invested companies, or 30.8 percent of its 92 total units.

Korea’s largest conglomerate Samsung Group and No. 3 player SK Group came next with 13 foreign-invested units, respectively.

By Alex Lee and newswires (alexlee@heraldcorp.com)