Fair Trade Commission, Designation of Large Business Groups
[Sejong=Asia Economy Reporter Kwon Haeyoung] Due to the impact of COVID-19, the corporate groups focusing on the pharmaceutical and IT industries have seen a significant rise in their rankings in the business world.
The Fair Trade Commission announced on the 29th that, as of May 2021, 71 corporate groups with total assets of 5 trillion won or more have been designated as publicly disclosed corporate groups, and among them, 40 groups with total assets of 10 trillion won or more have been designated as mutually invested restricted corporate groups.
Celltrion, which focuses on pharmaceuticals, saw the biggest jump in its business ranking, rising from 45th to 24th place. This was due to a significant increase in total assets from 8.8 trillion won to 14.9 trillion won, driven by stock value appreciation, company establishment through stock investment, and increases in sales and net profit.
The IT sector also showed remarkable growth due to the expansion of the non-face-to-face market, with Coupang newly designated as a publicly disclosed corporate group. In Coupang's case, total assets grew from 3.1 trillion won to 5.8 trillion won, surpassing the 5 trillion won mark for the first time. Instead of Kim Beomseok, a U.S. national who was the same person, the Coupang corporation was designated as the controlling entity.
Naver (total assets 9.5 trillion won → 13.6 trillion won) jumped from 41st to 27th place due to increased operating profit and attracting new external investments, and Netmarble (8.3 trillion won → 10.7 trillion won) rose from 47th to 36th place due to stock value appreciation and acquisition of new assets. Nexon (9.5 trillion won → 12 trillion won) also rose from 42nd to 34th, and Kakao (14.2 trillion won → 19.9 trillion won) climbed from 23rd to 18th in the business rankings.
Celltrion, which focuses on pharmaceuticals, also saw the biggest jump in its business ranking, rising from 45th to 24th place. This was due to a significant increase in total assets from 8.8 trillion won to 14.9 trillion won, driven by stock value appreciation, company establishment through stock investment, and increases in sales and net profit.
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