Corporate mergers and acquisitions increased significantly in the first six months amid the economic recovery, according to the Korea Fair Trade Commission. Earlier in the week, Maeil Business reported on the findings -
According to data released by the Korea Fair Trade Commission on July 27, M&A deals struck over the first half amounted to KRW 147 trillion ($124 billion), up 72% from the same period a year ago. Such deals numbered 241, up 28% from a year before.
The Lotte Group was in spotlight during the period as the conglomerate acquired the discount sales network and the department unit from GS Retail for 820 billion won and 530 billion won, respectively. Lotte Hotel also bought up AK Global, a duty-free shop, for 80 billion won.
Another affiliate Korea Seven convenience store took over a smaller rival Buy the way Inc. for 274 billion won.
Telecom carriers expanded their business into an area to create synergy as SK Telecom acquired a 49% stake from Hana Card for 400 billion won, entering the mobile credit card market, and KT took over Kumho Rent A Car, aiming to integrate its telecommunication network and the car rental agencies across the nation.
M&As for a market share were also active as Hanwha Securities acquired Prudential Investment & Securities Co. for 490 billion won, paving the way for it to become a large player in the market.
M&A activity was split 58.5% from the service sector and 41.5% from the manufacturing sector.
The full report can be downloaded from the Korea Fair Trade Commission (Korean & in HWP format).
Sources: Maeil Business, Korea Fair Trade Commission
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