38 firms newly make list of top 500 firms in 2018
A total of 38 firms newly made the list of South Korea’s top 500 companies by sales in 2018, with Samsung Electronics retaining the No. 1 spot, a corporate tracker said on May 15.
The newcomers included fiber manufacturer Hyosung TNC, which placed 163rd, the highest among them, according to CEO Score.
The oil refining and petrochemicals industry posted the largest number of entrants with 49, followed by the distribution sector with 47, the car and auto parts industry with 46 and builders with 43.
The combined top line of the 500 largest firms came to 2,835.3 trillion won ($2.39 trillion), up 2.1 percent from a year earlier, but their combined operating profit fell 0.01 percent on-year.
Global tech giant Samsung Electronics remained the No. 1 company, with sales of 243.8 trillion won.
Leading automaker Hyundai Motor retained the second spot with sales of 96.8 trillion won. Steel giant POSCO came in third with 64.9 trillion won, with LG Electronics placing fourth with 61.3 trillion won. In 2017, LG Electronics was the No. 3 firm.
Rounding out the top 10 were state power company Korea Electric Power Corp., Kia Motors, Hanwha, chip giant SK hynix, oil refiner GS Caltex. and top auto parts maker Hyundai Mobis.
SK hynix and GS Caltex newly made the top 10 list on the back of strong performances. SK hynix logged record-high earnings last year, with GS Caltex posting a 20-percent surge in sales.
By Ram Garikipati and newswires (firstname.lastname@example.org)