실질지배력에 따른 SK기업집단의 연결범위 결정사례

This study examines the determination of consolidation scope in SK corporation group. Especially, at the point of 2011, when K-IFRS was adopted, this case study investigates whether the ultimate controlling party of SK group, SK C&C has de facto control over SK corporation, the holding company of SK group. Then, this study also examines whether SK corporation controls its subsidiaries, SK Innovation and SK Telecom. Both parent-subsidiary relationships are the cases when the proportion of the equity held by investor is less than 50%. This study discusses whether the determination of de facto control among associated companies in SK group, and the corresponding changes in consolidation scope are appropriate in accordance with K-IFRS 1110. While the definition of de facto control under K-IFRS 1027 is rather abstract, K-IFRS 1110 suggests more clear indicators of controlling power to determine de facto control. Based on the indicators, we can not find evidence that SK C&C has control over SK corporation. However, there are enough evidence that SK corporation controls its subsidiaries. Therefore, although the investor’s ownership percentage in the investee is similar in both cases, SK C&C should not include SK corporation, and SK corporation should include SK Innovation and SK Telecom in their scope of consolidation based on K-IFRS 1110. By exploring the case of determining consolidation scope in a large corporation group, this study is expected to give helpful implication to corporate practitioners who are responsible for determining consolidation scope, accounting firms, and regulatory authorities.