South Korea's Top Conglomerates Witness Unprecedented Asset Growth

South Korea's leading conglomerates, including Samsung, Hyundai, and SK, experienced significant asset growth over five years, according to a Pulse report. The combined assets of the top five groups surged by 38.9%, driven by expansion efforts and strategic investments, outpacing other business groups.

In an impressive display of economic resilience, South Korea's foremost conglomerates have reported significant asset growth over the past five years. According to an analysis conducted by corporate tracker CEO Score and reported by Pulse, the English service of Maeil Business News Korea, the total asset value among South Korea's top three conglomerates—Samsung, SK, and Hyundai Motor—soared by 42.8% from 2019 to 2024.

The detailed report highlights that among various business groups, the top five - Samsung, SK, Hyundai Motor, LG, and Lotte - saw a combined asset growth of 38.9%, jumping from 1,143.6 trillion won to 1,588.07 trillion won. This growth trajectory significantly outpaces the total asset increase of all other remaining groups.

Leading this impressive growth, Samsung Group added 164 trillion won in assets, marking an increase of 38.7%. Meanwhile, SK Group followed closely, spurred by SK hynix Inc.'s expansion, with a 60.9% rise in assets. Hyundai Motor Group grew by 30.6% amid robust global auto sales and investments in electric vehicle technology. Particularly noteworthy is Jungheung Construction Co., which saw a staggering growth rate of 217.5%, due to its acquisition of Daewoo Engineering & Construction Co. in 2021.

(With inputs from agencies.)