Investment Firms: Main Shareholders?

It was reported that more than 100 listed companies have over five percent of their shares held by investment management companies.

The Korea Exchange announced yesterday that out of 723 listed companies, 103 companies have over five percent of their shares held by investment management companies, and 13 companies have over 10 percent held by these companies.

For example, Korea Investment Trust Management has an over five percent share of 18 listed companies. Shinyoung Investment Management is major shareholder of 17 listed companies. Mirae Asset Group’s affiliated investment management companies are major shareholders of 22 listed companies. Korea Value Asset Management also holds more than a 10 percent share of eight listed companies.

Korea Investment Trust Management, in particular, holds 10.4 percent of Shilla Hotel and became its heaviest shareholder. Since National Pension Service, Mirae Asset Investment Management and Mirae Asset Investment Trust have more than five percent shares of Shilla Hotel each, management companies hold about two times more than that of Samsung Group, its controlling shareholder.

In addition to this, major companies such as Cheil Industries (by Mirae Asset Investment Management), Dong-A Pharmaceutical (by Mirae Asset Investment Trust), Daewoo Motors Sales Corp. (by Mirae Asset Investment Trust), Gaon Cable (by Korea Value Asset Management), and Korea Flange (by Shinyoung Investment Management) have investment management companies as the heaviest shareholder.

roryrery@donga.com