Seoul: The antitrust regulator announced that the number of conglomerate-affiliated companies has slightly decreased over the past three months due to ongoing industrywide portfolio restructuring efforts.

According to Yonhap News Agency, the Fair Trade Commission (FTC) reported that as of August 3, the country's 102 conglomerates collectively held 3,534 affiliates. This marks a decrease of four affiliates from the 3,538 recorded three months prior. During this period, 79 companies were removed from the list because of mergers, separations, and other rearrangements, while 75 new affiliates were added.

Notably, SK Group reduced its number of affiliated companies by seven, DB removed 11 firms, and Hyosung dropped six. Conversely, Hyosung also added 11 companies to its portfolio, and GS Group gained nine new affiliates.

The FTC highlighted that these large business groups are engaging in portfolio restructuring to explore new business opportunities, reflecting a shift in the overall industrial landscape. Under South Korean law, conglomerates with assets of 5 trillion won (approximately US$3.82 billion) or more are required to disclose their business status and details of significant internal trade activities.