Share Among Top 100 Companies Reaches 22.3%, Up 0.5 Percentage Points from Previous Year
Performance Linked to Partner Payments, Employee Salaries, Taxes, and Dividends
Hyundai Motor Group recorded the largest economic contribution among domestic conglomerates (business groups) last year.
According to an analysis by corporate data research institute CEO Score, released on June 26, Hyundai Motor Group (comprising nine companies) had an estimated economic contribution of 359.4384 trillion won among domestic groups, based on the top 100 companies by sales in 2024.
Economic contribution is the total economic value generated by a company’s business activities. It is used as an indicator to assess the influence and ripple effects a company has on the economy. The figure is calculated as the sum of all payments made to stakeholders, including employee salaries, payments to partner companies, corporate taxes paid to the government, dividends to shareholders, and donations.
Last year, Hyundai Motor Group’s economic contribution increased by 6.1% compared to 2023 (338.7143 trillion won). Its share of the total economic contribution among the top 100 companies rose from 21.8% in 2023 to 22.3% in 2024, an increase of 0.5 percentage points.
The breakdown is as follows: 306.6295 trillion won to partner companies (transaction payments), 34.0595 trillion won to employees (salaries, etc.), 9.2613 trillion won to the government (taxes, etc.), 7.5808 trillion won to shareholders (dividends, etc.), 1.5994 trillion won to creditors (interest), and 307.8 billion won to society (donations).
By affiliate, the figures were as follows: Hyundai Motor Company 115.2187 trillion won, Kia 86.589 trillion won, Hyundai Mobis 52.1965 trillion won, Hyundai Engineering & Construction 30.2921 trillion won, Hyundai Glovis 25.4479 trillion won, Hyundai Steel 15.4795 trillion won, Hyundai Engineering 15.017 trillion won, Hyundai Transys 11.7964 trillion won, and Hyundai Wia 7.4013 trillion won. The core affiliates?Hyundai Motor Company, Kia, and Hyundai Mobis?ranked among the top five in economic contribution among the top 100 companies.
Hyundai Motor Group was found to have the greatest ripple effect on the overall economy compared to other domestic groups. Samsung Group (eight companies) recorded an economic contribution of 247.0563 trillion won, LG Group (eight companies) 190.0173 trillion won, and SK Group (ten companies) 145.3347 trillion won.
This indicates that Hyundai Motor Group’s achievements do not remain within the group but spread in a virtuous cycle, promoting national economic development and the joint growth of stakeholders. Last year, according to Automotive News in the United States, ten domestic companies, including Hyundai Mobis and Hyundai Transys, were listed among the world’s top 100 parts suppliers based on the previous year’s sales. This is twice as many domestic companies as were included in the rankings ten years ago.
Even amid challenging crises, Hyundai Motor Group plans to continue supporting national economic development and promoting the joint growth of stakeholders. The group also aims to strengthen national competitiveness by leading the advancement of cutting-edge technology, helping Korea emerge as a mobility innovation hub.
A Hyundai Motor Group official stated, "We will continue to pursue mutual growth with partner companies, enhance shareholder value, create quality jobs, and engage in social contribution activities, thereby contributing to the development of the national economy."
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