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SHARES HELD BY SOUTH KOREAN OWNER FAMILIES IN CHAEBOLS FALL.
SEOUL, Sept. 3 Asia Pulse - The portion of shares of South Korean family-owned business conglomerates owned by conglomerate heads and their families dropped in 2007 from a year earlier, the country's corporate watchdog said Sunday.
A recent survey by the Fair Trade Commission showed that share ownership by the heads of 43 conglomerates and their families accounted for a total of 4.9 per cent of those businesses as of the end of March, down 0.15 percentage point from 2006.
The groups, along with 19 other public companies, are currently affected by the country's equity investment law, which bans subsidiaries of conglomerates with assets of 2 trillion won (US$2.14 billion) from making cross-investments to prevent distortion of governance structures.
On average, South Korea's largest ...
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