From Petrochemicals in 2011 to IT Electronics Last Year
13 to 16 Korean Companies in Pocheon Global 500
[Asia Economy Reporter Moon Chaeseok] The sales scale of the top 500 domestic companies has increased by approximately 39% over the past decade. The industry with the largest sales share has shifted from petrochemicals to IT (Information Technology) and electronics compared to 10 years ago.
On the 28th, CEO Score, a corporate data research institute, analyzed the sales changes of the top 500 domestic companies by sales and found that as of last year's fiscal year-end, the total sales of these companies amounted to 3,286 trillion won, a 39.0% increase from 10 years ago.
By industry, IT and electronics accounted for the largest share of sales at 17.3%. This was followed by petrochemicals (11.1%), automobiles and parts (10.3%), insurance (8.3%), and banking (6.6%). The change in the sales share by industry among the top 500 companies is analyzed to be due to changes in the domestic industrial structure.
Ten years ago, in 2011, the sales share by industry was petrochemicals (14.6%), IT and electronics (13.9%), automobiles and parts (9.5%), banking (7.5%), and insurance (6.9%) in that order. The sales share of the IT and electronics industry expanded by 3.4 percentage points (p) over 10 years. Conversely, the share of petrochemicals decreased by 3.5 p, switching the first and second places.
The share of the top 10 companies in the sales of the top 500 domestic companies decreased by 1.6 p from 27.7% in 2011 to 26.1% last year.
By company, Samsung Electronics' share expanded by 1.5 p from 7.0% in 2011 to 8.5% in 2021. This was followed by Hyundai Motor (3.3%→3.6%), POSCO Holdings (2.9%→2.3%), LG Electronics (2.3%→2.3%), and Kia (1.8%→2.1%). The concentration on Samsung has intensified.
Meanwhile, comparing the sales of the 'Global 500 Companies' selected by the U.S. economic magazine 'Fortune' from 2011 to 2021, the sales of these companies increased by 31.7%.
Among the global 500 companies, the industry with the largest sales share was petrochemicals. Although the sales share of the petrochemical industry shrank by 6.1 p from 21.7% in 2011 to 15.6% last year, it still had the largest sales share among all industries.
Following petrochemicals were distribution (9.7%), insurance (9.1%), banking (7.8%), and automobiles and parts (7.6%).
The number of Korean companies included in the Fortune-selected global 500 companies increased by three from 13 in 2011 to 16 last year. China had the most companies in the global 500, increasing by 63 to 136 companies compared to 10 years ago, while the U.S. ranked second with 124 companies, down by eight.
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