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Chaebol affiliates multiply again

Posted October. 06, 2000 19:59,   


Chaebol groups are still known to be preoccupied with enlarging their business territories. The Fair Trade Commission revealed Friday that conglomerates in the 30th ranking have newly incorporated 11 affiliates and alienated 2 affiliates during the last month, thereby increasing their affiliates by 9 for a total of 564. During September, SK incorporated online information provider Netsgo and acquired shares of NC technology (a communications device manufacturer) and widerthen.com (a computer operating company), thus making them its new affiliates. Moreover, Lotte acquired food manufacturer and wholesale and retailing company Swiss Brangjerry, as well as High Star (an imported liquor distributor) as its new affiliates. LG advanced into the city gas supplying business by incorporating Seorabul city gas.

Hansol incorporated an investment company for new business known as Hansol Ice Venture Co. Cheil Jedang, meanwhile, acquired LuTV, an integrated cable broadcasting company, and Korea Cable TV¡¯s Kyongnam broadcasting as its new affiliates. Hyosung included in its group portfolio Bridge Solution Group, a management company, by acquiring its shares. Hanwha opened Korea Electronic Certification Co, which specializes in providing certification for electronic transactions. The Fair Trade Commission asserted that conglomerates in the 30th ranking and their officials are constantly enlarging their affiliates by steadily investing in the information and communications sector.