Chaebol in crosshairs: The head of South Korea’s Fair Trade Commission has told Hyundai Motor Group to dissolve cross-shareholdings in the conglomerate, Soyoung Kim and Hyjunjoo Jin write. Kim Sang-jo said he has been in talks with the autos-to-steel conglomerate about overhauling its complex ownership structure, which critics say gives too much power to its controlling family at the expense of shareholders. “Many people, including me, are telling Hyundai that they shouldn’t waste more time before dissolving cross-shareholding,” said Kim, who has been nicknamed “Chaebol Sniper” for his shareholder activist campaigns targeting South Korea’s powerful family-run conglomerates. “I’m in ongoing conversations with Hyundai. ”READ THE STORY HERE
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