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Conglomerates' cash holdings reach record high in 2018

10:08 March 17, 2019

SEOUL, March 17 (Yonhap) -- Listed affiliates of South Korea's top 10 conglomerates saw their combined cash holdings reach an all-time high of nearly 250 trillion won (US$220 billion) in 2018, data showed Sunday.

According to the data compiled by industry tracker Chaebul.com, 95 listed affiliates of the top 10 business groups held cashable assets worth 248.3 trillion won in the financial year of 2018, up 12.2 percent on-year.

By group, the top family-controlled business, Samsung, held cashable assets worth 125 trillion won, rising a whopping 22.6 percent on-year.

Industry watchers said the increase was led by its main affiliate, Samsung Electronics Co., which saw its cash holding jump 24.7 percent to 104 trillion won.

Samsung Electronics became the first South Korean firm to hold cashable assets hovering above the 100-trillion won level as a single company.

Hyundai Motor Group followed Samsung with cashable assets worth 42.7 trillion won. The cash holding of Hyundai Motor Co., and its auto-parts affiliate Hyundai Mobis Co., rose 11.8 percent and 2.9 percent, respectively, on-year.

Cash assets of listed affiliates from SK Group, the third-largest conglomerate, came to 28.5 trillion, up 3.5 percent over the cited period.

Other major conglomerates, including POSCO Group and Hanwha Group, expanded the amount of cashable assets on-year in 2018.

LG Group, on the other hand, saw its cash holding edge down 0.1 percent in 2018 to 13 trillion won. Cashable assets of Lotte Group and GS Group moved down 11.8 percent and 25.8 percent to reach 1.1 trillion won and 1 trillion won, respectively.

Conglomerates' cash holdings reach record high in 2018 - 1

colin@yna.co.kr
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