Internal transactions of Samsung, Hyundai, and SK reached nearly KRW 100 trillion.
This is because the amount of internal transactions by newly designated companies such as Bando Holdings has increased.
It has been confirmed that Hyosung omitted the disclosure of 37.3 billion won it lent to the group's vice chairman.
According to the "2021 Status of Internal Transactions of Business Groups Subject to Disclosure"released by the Fair Trade Commission on the 16th, the amount of internal transactions by 71 business groups with more than 5 trillion won in total assets this year totaled 183.5 trillion won, down from the previous year (196.7 trillion won).
Since July 2009, the FTC has introduced a disclosure system on the status of large business groups and disclosed the status of internal transactions among affiliates since 2011 in order to induce improvement in ownership governance and management practices through market monitoring.
The group of companies designated as of May this year included 60 groups with heads, including Samsung, Hyundai Motor, SK, LG, Lotte, Hanwha, GS and Hyundai Heavy Industries, and 11 groups without heads, including POSCO, Nonghyup and KT.
The FTC also analyzed and disclosed the status of internal financial and asset transactions of 63 designated business groups that disclosed internal financial and asset transactions last year for the first time. Non-financial firms borrowed large amounts from affiliated financial firms, followed by Nonghyup with KRW 3.39 trillion and Lotte with KRW 120 billion.
Groups with large amounts of loans from their companies to related parties were Hyosung with 100 billion won and Nonghyup with 60 billion won.
In the case of Hyosung, Hyosung T&S, Hyosung Good Springs, and ASC paid 100 billion won in short-term loans to related parties who are shareholders and collected them before maturity.
In the process, it was confirmed that ASC omitted the disclosure of 37.3 billion won collected on March 2 this year after lending it to Hyosung Group Vice Chairman Cho Hyun-sang on April 20 last year.
Reporter Lee Ji-sun stockmk2020@gmail.com
