Samsung Group's ownership structure unsustainable: S.Korea antitrust chief

Samsung Life Insurance

10/05/2018 04:11

SEOUL, May 10 (Reuters) - South Korea's antitrust chief said
on Thursday that South Korea's No. 1 conglomerate Samsung
Group's  SAGR.UL  current ownership structure is not
sustainable. 
    Korea Fair Trade Commission chief Kim Sang-jo told reporters
on the sidelines of a meeting with business leaders that
Samsung's current ownership structure, resting on circular
shareholding between companies such as Samsung C&T  028260.KS ,
Samsung Life Insurance  032830.KS , and Samsung Electronics
 005930.KS , was not sustainable.
    "The clear fact is, the current ownership and control
structure of Samsung Group, which goes from Vice Chairman Jay Y.
Lee to Samsung C&T to Samsung Life Insurance to Samsung
Electronics, is not sustainable," said Kim. 
    Kim said he had called on Samsung Group heir and Samsung
Electronics Vice Chairman Jay Y. Lee to make a decision
concerning the ownership structure, adding that Lee had told him
that he will think about it. 

 (Reporting by Heekyong Yang; Writing by Joyce Lee; Editing by
Muralikumar Anantharaman)
 ((jungyoon.lee@thomsonreuters.com; +82 2 3704 5609; Reuters
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