The amount of money the top 30 conglomerates spent to treat their clients to meals or other services fell by nearly 30 percent in the fourth quarter of last year following the implementation of the anti-graft Kim Young-ran Law in late September. 
 
Local business information provider CEO Score said on Thursday that a total of 111 companies affiliated with the top 30 local business groups reported 21-billion-286-million won, or 18-point-seven million dollars worth of “client entertainment” expenditures in the October-December period, down by 28-point-one percent from the same quarter a year earlier.
 
Twenty-four of the largest conglomerates slashed “entertainment” spending. This was led by Kumho Asiana Group, which cut its spending by 65-point-four percent followed by Lotte with 59-point-nine percent.
 
Samsung and Posco also reduced spending by 49-point-eight percent and 45 percent, respectively.