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S Korean conglomerates bulk up under Lee presidency

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Arab Today, arab today S Korean conglomerates bulk up under Lee presidency

Seoul - Yonhap

The average revenue growth at South Korea\'s top 10 conglomerates, including Samsung and Hyundai Motor, under the Lee Myung-bak presidency was about four times larger than during the rule of Lee\'s predecessor, Roh Moo-hyun, data showed Sunday. Since Lee\'s inauguration in February 2008, the 10 family-owned business groups, also known as chaebol, posted an average 13 percent annual growth in revenue, compared with 3.1 percent recorded under Roh\'s presidency, according to an analysis of their financial statements and Fair Trade Commission filings.

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