CEO Score, Survey on Performance and Donations of Korea's Top 500 Companies
Cumulative Donations of Top 500 Companies in Q3 Reach 1.5244 Trillion KRW
Hana Bank Shows the Largest Increase in Donations
The cumulative donations of the top 500 domestic companies in the third quarter increased by 4%. Among companies, Hyundai Motor and Kia ranked first again this year, followed by Korea Electric Power Corporation and Hana Bank in second and third place, while Samsung Electronics ranked fourth. In terms of donation increase amount, financial companies such as Hana Bank, Industrial Bank of Korea, Woori Bank, and Hanwha Life Insurance accounted for six out of the top 10 companies.
On the 17th, CEO Score, a corporate data research institute, surveyed 264 companies among the top 500 companies by designated sales this year that disclosed donation amounts for two consecutive years. The cumulative donations up to the third quarter this year totaled 1.5244 trillion KRW. This is an increase of 61.4 billion KRW (4.2%) compared to the same period last year (1.4631 trillion KRW).
During the same period, the cumulative operating profit of these companies increased from 96.2026 trillion KRW to 157.9143 trillion KRW, an increase of 61.7117 trillion KRW (64.1%). While operating profit increased significantly, donations only saw a slight increase.
The cumulative donation amount in the third quarter this year was highest for Hyundai Motor and Kia at 155.2 billion KRW. Hyundai Motor and Kia ranked first for two consecutive years, having donated 209.9 billion KRW cumulatively by the third quarter last year. Following them were Korea Electric Power Corporation (154.4 billion KRW) and Hana Bank (152.3 billion KRW) in second and third place, with Samsung Electronics (141.2 billion KRW) ranking fourth.
Next in the top 10 were ▲Industrial Bank of Korea (52.9 billion KRW) ▲Woori Bank (47.6 billion KRW) ▲SK Hynix (41.0 billion KRW) ▲HD Hyundai Heavy Industries (39.1 billion KRW) ▲POSCO (34.2 billion KRW) ▲LG Household & Health Care (27.0 billion KRW). Financial companies stood out in terms of donation increase amounts. The top 10 companies with the highest cumulative donation increase by the third quarter included five banks: Hana Bank, Industrial Bank of Korea, Woori Bank, Standard Chartered Bank Korea, Kakao Bank, and Hanwha Life Insurance.
In particular, Hana Bank donated 152.3 billion KRW, an increase of 77.8 billion KRW (104.5%) compared to the same period last year, ranking third in cumulative donations after Hyundai Motor and Kia and Korea Electric Power Corporation. Korea Electric Power Corporation followed, donating 154.4 billion KRW, an increase of 35.8 billion KRW (30.2%) from 118.5 billion KRW the previous year, and HD Hyundai Heavy Industries donated 39.1 billion KRW, an increase of 35.3 billion KRW (932.7%) compared to the previous year.
Other companies with significant donation increases included ▲Industrial Bank of Korea (31.9 billion KRW, 151.8%↑) ▲Woori Bank (23.8 billion KRW, 100.1%↑) ▲Standard Chartered Bank Korea (12.2 billion KRW, 8382.8%↑) ▲Hanwha Life Insurance (12.1 billion KRW, 193.2%↑) ▲Kakao Bank (11.3 billion KRW, 281.3%↑) ▲Hyundai Mobis (8.3 billion KRW, 66.5%↑) ▲Hanil Cement (8.2 billion KRW, 145.2%↑).
On the other hand, Samsung Electronics reduced its donations the most, donating 141.2 billion KRW, which is 38.4 billion KRW (21.4%) less than the same period last year. Although Samsung Electronics' operating profit increased by 601% compared to the same period last year based on the cumulative third quarter, its donations significantly decreased. As a result, its overall donation ranking was only fourth.
Following that, LG Household & Health Care donated 27.0 billion KRW, down 33.0 billion KRW (55.0%) from the previous year, and Hyundai Motor donated 104.5 billion KRW, down 31.7 billion KRW (23.3%).
HMM also sharply decreased donations by 2.53 billion KRW (96.2%) to 1 billion KRW compared to the previous year, and Kia donated 50.7 billion KRW, down 23.0 billion KRW (31.2%). Additionally, ▲KT (18.4 billion KRW, 78.2%↓) ▲Korea Connector Industry (18.3 billion KRW, 98.9%↓) ▲SK Energy (14.6 billion KRW, 92.1%↓) ▲Ssangyong C&E (13.8 billion KRW, 62.0%↓) ▲SK Gas (5.4 billion KRW, 64.4%↓) also significantly reduced their donations.
By industry, bank donations increased the most by 154 billion KRW (103.5%). Following were ▲Shipbuilding, Machinery, Equipment (44.7 billion KRW, 68.6%) ▲Public Enterprises (28.7 billion KRW, 14.9%) ▲Insurance (18.8 billion KRW, 72.5%) ▲Distribution (8.1 billion KRW, 18.5%) ▲Construction and Building Materials (7.3 billion KRW, 13.0%) ▲Credit Finance (5.6 billion KRW, 39.7%) ▲Pharmaceuticals (3.0 billion KRW, 13.1%) ▲Securities (2.7 billion KRW, 21.2%) ▲Food and Beverage (1.9 billion KRW, 5.7%) industries increased their donations.
On the other hand, the 'Automobile and Parts' industry reduced donations by 69.3 billion KRW (27.4%) compared to the same period last year, the largest decrease. Other industries that reduced donations included ▲IT Electronics (-37.5 billion KRW, -14.7%) ▲Consumer Goods (-31.6 billion KRW, -43.4%) ▲Transportation (-24.3 billion KRW, -50.3%) ▲Telecommunications (-21.0 billion KRW, -58.2%) ▲Petrochemicals (-14.5 billion KRW, -18.0%) ▲Steel (-6.3 billion KRW, -12.3%) ▲Energy (-5.5 billion KRW, -38.7%) ▲Services (-2.9 billion KRW, -10.3%) ▲Trading (-0.4 billion KRW, -14.9%) ▲Holdings (-0.2 billion KRW, -2.4%).
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