SEOUL, KOREA - According to the Financial Supervisory Service on May 20, the sum of the top-four conglomerates' first-quarter intercompany transactions was 1,152.2 billion won, down 54 percent from the earlier disclosed amount of 2,522.0 billion won. Since last year, the financial regulator has mandated large business groups to disclose the expected amount of intercompany transactions for the year.
By company, Samsung has reduced the intercompany transaction amount by the largest margin. Although it had said in a regulatory filing the sum would be 1,195.9 billion won, the actual amount was only 370.1 billion won. The transaction volume among affiliates within Hyundai Motor Group was 737.7 billion won, 41 percent lower than the announced sum of 1,260.7 billion won.
LG Group and SK Group could also cut their expected intercompany transaction volumes to 150.8 billion won and 292.7 billion won from 240 billion won and 413.6 billion won, respectively.
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