The Fair Trade Commission said on the 21st that Kakao disposed of 17 game development affiliates over the past three months through equity sales and mergers by absorption.
The Fair Trade Commission released changes among subsidiaries of large conglomerates with 5 trillion won or more in asset value from August to October. The 92 conglomerates reduced their affiliates by 14, from 3,289 in early August to 3,275 in early November.
The Fair Trade Commission discloses conglomerate affiliate status once every three months. Conglomerates cut 12 affiliates from May to August, and they trimmed slightly more in the past three months. A Fair Trade Commission official said, "There has been a move to shed underperforming businesses and focus on future growth engines."
Over the past three months, 30 conglomerates reduced 69 affiliates, while 31 companies newly added 55 affiliates.
Kakao removed the most affiliates by trimming 14. Kakao mainly streamlined game developers, including Nexports, Nimble Neuron, EncroKey, Onmind, EK Games, Phantom, Playheart, Trifla, and Pretty Bees.
Next, SK excluded nine affiliates, focusing on companies engaged in electric-vehicle-related businesses. It streamlined Ultimus and SK Materials Group Fourteen, affiliates related to silicon anode materials, and also sold its equity in SK Elink, which runs an EV charging business, to an external party.
In addition, Hyundai Motor and E-Land Group each streamlined three affiliates. Hyundai Motor excluded WIA Machine Tools, a manufacturer of machining tools, and KCNC, a manufacturer of battery supply and production equipment, from its affiliates. E-Land Group reorganized affiliates including E-Land Global, an outerwear manufacturer; Elens Kim's Club, a retailer; and Ecruise Line, a cruise operator.
According to the Fair Trade Commission, LG excluded Hivicharger, a company related to EV chargers, from its affiliates. POSCO liquidated POSCO C&G R Nickel Solution, a company related to secondary batteries.
By contrast, Samsung established "Samsung Noble Life," an operator of senior welfare facilities. POSCO acquired equity in Chemgas Korea to expand its business in rare specialty gases used in semiconductor processes.
Also, CJ brought "Content Wavve" into its group to strengthen its content business. Naver bought equity in the unlisted stock platform "Securities Plus Unlisted," and TAE KWANG CORPORATION established a business company, "Sil Co., Ltd.," after acquiring Aekyung Industrial.