SEOUL -- The top five accounted for 72% of the combined net profit of South Korea's 59 family-run business empires last year, the country's fair trade watchdog said on May 15, illustrating dwindling competition in the industrial sector.
Samsung, Hyundai, SK, LG and Lotte hold 54% of assets of those business groups, known as chaebol, the Fair Trade Commission said. The quintet also reaped 57% of sales. Meanwhile, the 25 smallest chaebol own less than 10% of the aggregate assets, the result of a wealth gap that has been widening every year.
