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Earned surplus of S. Korea’s listed companies up 104 trillion won on-year in 2015

Collected: 2016.04.15

Distributed: 2016.04.18

Source: Go Direct

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A large number of South Korea’s listed companies remain shy about spending earned surplus even after the Korean government, in a bid to stimulate the slowing economy, has implemented a measure to impose tax against a company that is refrained from investing, hiking wages and paying dividends.

According to data compiled by FnGuide, a Seoul-based financial information provider, on request from Maeil Business Newspaper, total earned surplus of 1,849 listed companies in Korea increased 9.2% from 1,125 trillion won ($972.5 billion) in 2014 to 1,229 trillion won in 2015. Accumulated earnings refer to retained corporate income after paying dividends, wages and taxes.

The retention ratio also surged by 64 percentage points from 1,036 percent in 2014 to 1,100 percent, meaning the companies’ earned surplus are 11 times more than their capital.

The trend is driven by a handful of large conglomerates. The reserves of state-owned firm Korea Electric Power Corporation (KEPCO), which sold its old headquarters’ site to Hyundai Motor Co. in 2014, rose 26 percent from 50 trillion won to 63 trillion won. Samsung C&T Corp., which merged with Cheil Industries Inc. last year, is holding 18 trillion won in its reserves, up a whopping 200 percent from 6 trillion won in 2014. Samsung Electronics Co. and SK Hynix Inc. also boosted their accumulated earnings to 185 trillion won and 19 trillion won, up 8.8 percent and 35.7 percent, respectively.

By Yong Hwan-jin

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