Dependence on Samsung Electronics
It has been found that the appraised value of the Samsung Electronics shares owned by the National Pension Service (NPS) totaled 20 trillion won as of July 15, equivalent to 20.6% of the total domestic stock investment by the NPS.
The amount of the investment in Samsung Electronics by the NPS increased from 16.5 trillion won to 20 trillion between the end of last year and July 15. During the period, the appraised value increased as a result of a rise in the stock price and the like although its shareholding ratio in Samsung Electronics did not change.
Likewise, the ratio of Samsung Electronics shares to the domestic stock investment by the NPS rose from 17.4% to 20.6% during the period. For reference, the ratio of Samsung Electronics’ market cap to the aggregate market value of KOSPI was 16.88% on July 15.
At present, the NPS has at least 5% shares in each of 98 listed subsidiaries of 30 South Korean business groups. The equity value of the NPS in these companies totals 62.2 trillion won, up 8.3% compared to the end of last year. The total domestic stock investment by the NPS is currently estimated at 100 trillion won.
The ratio of investment in Samsung Group shares to the total domestic stock investment by the NPS edged down from 24.4% to 22.8% between the end of 2013 and the end of 2014 and then to 22.7% in the following year. In the first half of this year, the ratio jumped to 25.1%.
Approximately one-fourth of the total domestic stock investment by the NPS lies in the Samsung Group now. It is followed by the Hyundai Motor Group (7.4 trillion won), the LG Group (6.9 trillion won) and the SK Group (6.7 trillion won).