In this article, we will take a look at the 15 largest Korean companies by market capitalization. To skip our detailed analysis, you can go directly to the 5 Largest Korean Companies by Market Capitalization.
Although it has the 27th largest population in the world, South Korea has the 10th largest economy in the world and the 4th largest economy in Asia. South Korea in an incredible achievement of a country that has grown from an underdeveloped country to a country with a highly developed economy in a few generations thanks to which it is now part of the G-20 and the Organization of economically developed countries. Much of the success the country has achieved can be attributed to the country’s education system which has spurred a technological boom. Despite its incredible growth, South Korea is still considered one of the fastest growing economies in the world and is expected to be among the world’s leading economies by the middle of the 21st century. Another reason for South Korea’s economic strength is its export focus, where it is the eighth largest exporter in the world. Its economic resilience is why it was one of the few countries in the world to avoid a recession during the Great Recession and has gone from strength to strength ever since.
However, this does not mean that the company is completely impervious to global problems, as evidenced by the high inflation rate the country faced in 2022, in line with the record inflation levels faced by most countries in the world. world as fears of a global recession deepen. Despite high inflation, according to the OECD, the South Korean economy is expected to grow by 2.7% in 2022 and 2.5% in 2023. While consumption is expected to grow, a major improvement will be seen in 2023 due the strength of investments and exports. Other problems facing South Korea’s economy where the employment rate is below the OECD average while GDP per capita is 20% lower than the best performing countries in the OECD. In addition, income inequality is higher than in other advanced economies, while carbon dioxide emissions are above the OECD average and far from decreasing.
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South Korea is home to many of the biggest companies in the world. In fact, in the Forbes 2000 list, South Korea has the 4th highest number of companies with 66, ahead of major powers like Germany, France, UK and Spain. Only the United States, China and Japan have more companies among the top 2,000 global companies. After isolating the 66 Korean companies on the Forbes Global 200 list, we then ranked them according to their market value. For market value, we checked Yahoo Finance for each company’s market cap as of October 30, 2022. Where market value is in local currency, we’ve converted it to USD based on the latest exchange rates. So, without further ado, let’s take a look at some of Korea’s biggest companies, many of which will be familiar to you, starting with number 15:
15. Woori Financial Group Inc. (NYSE: WF)
Total company revenue (in billions): 11.47
Total company profits (millions): 2,200
Total company assets (billions): 376.2
Total company market value as of October 30, 2022 (in billions): 6.2
Woori Financial Group Inc. (NYSE: WF) is a South Korean banking company. Formed in 2001 by the merger of four commercial banks and an investment bank, Woori Financial Group Inc. (NYSE: WF) employs more than 13,000 people.
14. Hana Financial Group
Total company revenue (in billions): 13.75
Total company profits (in millions): 3,010
Total company assets (billions): 422.7
Total company market value as of October 29, 2022 (in billions): 8.6
One of the four financial holding companies on the list of Korea’s largest companies by market capitalization, Hana Financial Group has more than 15 subsidiaries and is active in 24 countries on several continents with a strong presence in Indonesia, Vietnam and China.
14. Samsung Life Insurance
Total company revenue (in billions): 25.44
Total company profits (in millions): 1,280
Total company assets (billions): 287.1
Total company market value as of October 30, 2022 (in billions):
Korea’s largest insurance company, Samsung Life Insurance products include annuities, life insurance and health insurance. It had the largest IPO in South Korea’s history and has over 6,000 employees.
12. LG Electronics
Total company revenue (in billions): 66.12
Total company profits (in millions): 900.9
Total company assets (in billions): 45
Total company market value as of October 30, 2022 (in billions): 10.8
One of the largest electronics companies in the world, LG Electronics has four business divisions: mobile communications, home appliances, vehicle components and home entertainment. LG Electronics is the second largest television manufacturer in the world after Samsung Electronics.
11. KB Financial Group Inc. (NYSE: KB)
Total company revenue (in billions): 33.86
Total company profits (in millions): 3,790
Total company assets (billions): 560.38
Total company market value as of October 29, 2022 (in billions): 13.1
A financial holding company, KB Financial Group Inc. (NYSE: KB) provides banking and financial services and is considered a national systemically important bank. KB Financial Group Inc. (NYSE: KB) was formed from the restructuring of Kookmin Bank and acquired one of Korea’s largest life insurance companies in 2015. KB Financial Group Inc. (NYSE: KB) has 13 subsidiaries.
10. SK Group
Total company revenue (in billions): 85.9
Total company profits (in millions): 1,720
Total company assets (in billions): 139.1
Total company market value as of October 29, 2022 (in billions): 12
SK Group is a South Korean conglomerate and is the second largest conglomerate in Korea. SK Group consists of 186 subsidiaries and is involved in various industries including chemical, petroleum, energy, marketing, construction and broadband internet.
9. POSCO Holdings Inc. (NYSE: PKX)
Total company revenue (in billions): 66.66
Total company profits (in millions): 5,770
Total company assets (in billions): 77
Total company market value as of October 29, 2022 (in billions): 13.2
POSCO Holdings Inc. (NYSE: PKX) is a steel giant and is considered one of the largest steel manufacturers in the world. POSCO Holdings Inc. (NYSE: PKX) owns two steel mills in South Korea. While POSCO Holdings Inc. (NYSE:PKX) operated a joint venture with US Steel, the project was fully taken over by US Steel in 2020.
8. Shinhan Financial Group Co., Ltd. (NYSE:SHG)
Total company revenue (in billions): 29.3
Total company profits (in millions): 3,570
Total company assets (billions): 545.24
Total company market value as of October 29, 2022 (in billions): 13.2
Shinhan Financial Group Co., Ltd. (NYSE: SHG) is a financial holding company and is considered one of Korea’s Big Five financial groups. The services provided by Shinhan Financial Group Co., Ltd. (NYSE: SHG) are life insurance, securities, investment banking and banking. Shinhan Financial Group Co., Ltd. (NYSE: SHG) has 17 subsidiaries to manage its various business aspects.
7.C&T Samsung
Total company revenue (in billions): 30.1
Total company profits (in millions): 1,430
Total company assets (in billions): 46.5
Total company market value as of October 29, 2022 (in billions): 13.7
Samsung C&T is an engineering and construction company which was the very first Samsung company to be incorporated in 1938. Employing over 17,000 employees, the company focuses on real estate, trading and investments and of course building.
6. HyundaiMobis
Total company revenue (in billions): 36.42
Total company profits (in millions): 2,050
Total company assets (in billions): 43.3
Total company market value as of October 29, 2022 (in billions): 14.3
Hyundai Mobis is an automotive parts company and is the “parts and services” arm of major automakers Hyundai Motor, Kia Motors and Genesis Motors. Kia Motors owns more than 21% of the company.
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Disclosure: none. The 15 largest Korean companies by market capitalization are initially published on Insider Monkey.
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