Amid streamlining through the divestment of non-core businesses, active entry into future high-value-added industries such as AI and semiconductors
August 14, 2026
The Korea Fair Trade Commission (KFTC, Chairperson Biung-Ghi Ju) released the status of changes in affiliated companies of large-scale enterprise groups (business groups subject to disclosure with assets of KRW 5 trillion or more) that occurred over the past three months (May 2026–July 2026).
The number of affiliated companies belonging to 102 large-scale enterprise groups decreased by 4, from 3,538 as of May 1, 2026 to 3,534 as of August 3, 2026. There were 49 large-scale enterprise groups that experienced changes in their affiliated companies during this period.
Through company establishment (50 newly established, 2 through spin-off), equity acquisition (9 companies), and other means, 75 companies were newly included as affiliates across 35 groups, while through mergers by absorption (6 companies), equity sales (8 companies), completion of liquidation (16 companies), and other means, 79 companies were excluded from affiliation across 28 groups.
The groups with the most newly included companies were Hyosung (11 companies), GS (9 companies), and Dae Myung Chemical Co., Ltd. (7 companies), in that order. The groups with the most excluded companies were DB (13 companies), Hyosung (8 companies), and SK (7 companies), in that order.
This round of changes in affiliated companies showed three notable characteristics.
First, there was a move toward excluding affiliates as part of "selection and concentration," including the restructuring of business portfolios through the divestment of non-core businesses by group.
SK excluded 5 companies from affiliation, including SK D&D Co., Ltd., which is involved in real estate development; CJ excluded 2 companies, including CJ Feed&Care Co., Ltd., an animal feed manufacturer; and Wonik excluded 3 companies, including Pladi Co., Ltd., a film and other content production company.
Second, there was active inclusion of affiliates—through equity acquisitions, company establishments, and other means—aimed at entering future high-value-added industries such as AI, semiconductors, and silicon anode materials.
For the pursuit of AI data center businesses, Samsung newly included as affiliates the public-private joint venture Korea AI Computing Center Co., Ltd. and the cooling/HVAC solutions company FlaktGroup Korea Co., Ltd.; GS included 4 companies, including GS AI Infrastructure Co., Ltd.; and OCI included SGC Data Power Co., Ltd. and SGC AI Infrastructure Co., Ltd. Hansol newly included Will Technology Co., Ltd., a manufacturer of semiconductor inspection components, and Hyosung newly included HS Hyosung Energy Solution Korea Co., Ltd., a manufacturer of silicon anode materials.
Third, companies controlled by relatives of the controlling person or by executives of affiliated companies were excluded from affiliation.
Line, newly designated this year, excluded 4 companies, including Sindo Co., Ltd., a company controlled by relatives; Woongjin excluded 4 companies, including Gunjin Construction Co., Ltd., companies controlled by relatives and executives; Heesung excluded 3 companies, including Heesung Holdings Co., Ltd., an executive-controlled company; and QCP Group excluded Pen Investment Co., Ltd., an executive-controlled company—through methods such as recognition of independent management, executive resignation, and completion of liquidation, respectively.
Among existing groups, Jungheung Construction excluded KI Consulting Co., Ltd.; Hyosung excluded 6 companies, including JEIL Industrial Co., Ltd.; and Bando Holdings excluded 3 companies, including W&Partners Co., Ltd.—all recognized for independent management by relatives and excluded from affiliation accordingly.