Chaebol’s economic dominance increases

Korea has seen an unprecedented concentration of wealth in the nation’s top 10 family-owned conglomerates since the global financial crisis in 2008, industry reports showed Monday.

Their combined market capitalization and sales reached their highest-ever last year, according to separate reports by Chaebul.com, FnGuide and the Economic Reform Research Institute.

The top 10 owner groups saw the market cap of their 90 listed affiliates increase to 648 trillion won ($577 billion) as of January, about 52.83 percent of the total 1,227 trillion won of the nation’s main bourse. The figure has continued to grow from 44.87 percent in late 2008 to 46.59 percent in 2009 and 51.9 percent in 2010.

For full article see Korea Herald.

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