NEWS IN BRIEF

South Korea’s top 10 conglomerates, or chaebol... have bought 40bn won of insurance to protect their directors against securities-related class actions, according to figures from the Financial Supervisory Service. The total cover obtained reached 1.66tn won, said the agency. Two of the largest buyers were Samsung, which spent 9.8bn won for 200bn won in cover, and Hyundai Motor, which paid 1.89bn won for 100bn won of cover. Other big buyers were SK Telecom, Kia Motors, LG, and GS Engineering.