Krafton and Naver increase affiliates... Daekwang and Yeongwon largely excluded

[Financial News] In the past three months, the number of affiliates in large corporate groups has decreased by 12. Krafton and Naver increased their affiliates by 10 and 4 respectively, while Daekwang reduced 20.
 According to the 'Changes in Affiliates of Large Corporate Groups (May to July 2025)' released by the Fair Trade Commission on the 25th, the total number of affiliates of public disclosure target corporate groups with assets of 5 trillion won or more (92 groups) decreased from 3,301 (as of May 1) to 3,289 (as of August 1), a reduction of 12. Over the three months, a total of 61 companies were newly incorporated into affiliates, and 73 were excluded.
 The incorporation of affiliates was mainly focused on equity acquisitions or the establishment of new corporations to expand synergies with existing businesses.
 Krafton expanded its presence by incorporating as many as 10 companies in the game and ad-tech sectors as affiliates. Naver also included 4 companies, such as the real estate platform company Asil, as new affiliates.
 LG incorporated Bear Robotics Korea, an AI robot developer, to strengthen synergies with its robotics business, and Hanwha brought in Ourhome, a food distribution and catering specialist, as an affiliate.
 Sono International also incorporated 3 companies, including T'way Air, as affiliates.
 On the other hand, the exclusion of affiliates focused on restructuring through mergers and equity sales. SK improved efficiency by merging its semiconductor inspection subsidiaries, and POSCO reorganized its subsidiaries as part of LNG business integration. 
 Kakao sold its shares in the webtoon production company Next Level Studio, and Naver sold its shares in the game developer Studio 4Leaf, excluding them from affiliates.
 In particular, Daekwang, which was a newly designated group, excluded 20 executive-controlled companies from its affiliates at once. Yeongwon (5 companies), Bithumb (1 company), etc., also significantly reduced the number of affiliates due to executive resignations, liquidation completions, and recognition of independent management by relatives.
 A Fair Trade Commission official said, "Equity acquisitions to strengthen connectivity with existing businesses stood out rather than entering new businesses, while affiliate restructuring for financial structure improvement and simplification of governance was also actively carried out."
imne@fnnews.com Hong Yeji Reporter