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Transactions within South Korean conglomerates up in 2016

Companies help owner families take profit with little competition

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  © Reuters

SEOUL -- Family-owned conglomerates increased internal transactions by 23% in 2016 from two years ago, ruling out external competition and making maximum profit for themselves, industry data showed Wednesday.

CEO Score, a corporate information provider, said that internal trading between 91 companies controlled by owner families and their affiliates reached 7.9 trillion won ($7 billion) in 2016. The online corporate tracker collected the data from the conglomerates' public disclosures.

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