South Korea’s major conglomerates hold property assets worth 40 trillion won ($34.16 billion) with Lotte leading the list, CEO Score, a website that analyzes Korean conglomerates, said on July 3.
According to CEO Score, the book value of realty investments of 59 companies, categorized as large corporations with 5 trillion won and more in assets by the Fair Trade Commission, reached 39.5 trillion won as of end-2018.
Lotte Group, a retail-to-chemicals conglomerate, held 4.4 trillion won worth properties, up 12.6 percent from the previous year.
Samsung Group was second as its affiliates Samsung Life and Samsung Fire & Marine Insurance sold properties worth 1.2 trillion won. Its real estate value stood at 4.38 trillion won. As a separate firm, Samsung Life was on top with 3.7 trillion won property investments.
Sinsegae and Hanhwa groups reported more than 3.1 trillion won in their property value.
Nine other companies including GS and LG groups possess more than 1 trillion won in property investments, the report said.
CEO Score said its research is based on audit reports of each company and excludes properties used as their own offices.
By Park Ga-young (firstname.lastname@example.org)