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Korea Herald
14-05-2025
- Business
- Korea Herald
SK hynix named top firm in business evaluation rankings
South Korean chip giant SK hynix Inc. has been ranked the top company in terms of investment and business performance among the country's 268 major companies, a market tracker said Wednesday. SK hynix, the world's second-largest memory chipmaker, received 622.9 points out of the full 800 in a business evaluation that assessed eight categories, including global competitiveness, job creation and social contributions, according to CEO Score. Last year, Hyundai Motor Co. topped the list, while SK hynix failed to break into the top 10 due to a downturn in the semiconductor industry. This year, SK hynix earned high marks for rapid growth, investment and global competitiveness. Its bigger rival, Samsung Electronics Co., came in second with 596 points, followed by Samsung Biologics Co. with 590 points, Kia Corp. 572.7 points and Hyundai Motor 559.5 points. In the January-March period, SK hynix's sales jumped 42 percent on-year to 17.64 trillion won ($12.4 billion), while Samsung Electronics' rose 10 percent to 79.14 trillion won. Other companies in the top 10 included online portal operator Naver Corp., tobacco firm KT&G Corp., biopharmaceutical company Celltrion Inc., Samsung C&T Corp. and Hankook Tire & Technology Co. (Yonhap)
Korea Herald
16-04-2025
- Business
- Korea Herald
Average length of employment at 80 major firms rises
The average length of service of employees at 80 major South Korean companies has increased in the past five years despite frequent job changes among young workers and retirement programs for senior workers, a corporate data tracker said Wednesday. In its survey of 80 companies that released data on their employees' average years of service for the 2020-2024 period, CEO Score found the workers' average length of service rose to 14.03 years in 2024 from 13.55 years in 2020. The 80 firms belong to the country's top 100 companies in terms of sales. The average period of employment for female workers jumped to 12.94 years from 11.38 years over the cited period, while that of male employees climbed to 14.41 years from 14.29 years, the data firm said. SK Networks, an information technology solutions unit under SK Group, reported the sharpest growth in the employment period, with it increasing to 13.92 years in 2024 from 9.05 years in 2020. In contrast, leading automaker Hyundai Motor Co. saw its workers' years of service fall by the most, dropping to 15.8 years from 18.8 years. In 2024, Kia Corp. topped others with an average 21.8 years of service, followed by KT Corp. at 20.5 years, SK Incheon Petrochem 20 years and Citibank Korea 18.84. Doosan Bobcat, a construction equipment maker, posted 3.2 years, the shortest length of service, in 2024. (Yonhap)
Korea Herald
26-03-2025
- Business
- Korea Herald
Combined operating profit of top 500 firms jumps 66% in 2024, mainly on chip boom
The combined operating profit of South Korea's top 500 companies surged 66 percent from a year earlier in 2024, driven largely by a rebound in the global semiconductor market, a report showed Wednesday. According to the report from corporate tracker CEO Score, the total operating profit of the top 500 firms reached 183.7 trillion won ($125.3 billion) in 2024, up from 110.6 trillion won the previous year. The companies' combined annual sales rose 5.8 percent to 2,523 trillion won from 2,384 trillion won in 2023. Net profit jumped 74.5 percent over the same period. The sharp rise in operating profit was led mainly by the strong performance from chipmakers SK hynix Inc. and Samsung Electronics Co. amid robust demand for artificial intelligence memory products. SK hynix recorded the largest growth, swinging to an operating profit of 23.5 trillion won from a 7.7 trillion-won loss in 2023, marking a gain of over 31.2 trillion won. The company benefited from soaring demand for high bandwidth memory, a key component for AI semiconductors. Samsung Electronics posted the second-largest increase, with its operating profit rising by 26.2 trillion won on the back of improved business conditions in the sector, according to CEO Score. Other major contributors to the combined operating profit growth included Korea Electric Power Corp., whose profit increased by 12.9 trillion won, followed by HMM Co. with a 2.9 trillion-won rise, LG Display Co. with 1.9 trillion won and Korea Gas Corp. with 1.5 trillion won. (Yonhap)
Korea Herald
12-03-2025
- Business
- Korea Herald
Samsung Electronics pays highest salaries to outside directors: data
Samsung Electronics Co. ranked first in average salaries for outside directors among major listed companies in South Korea last year, a corporate tracker said Wednesday. According to CEO Score, Samsung Electronics paid an average of 183.3 million won ($126,000) per outside director in 2024, the highest among 247 companies surveyed out of the country's top 500 firms by market capitalization. Despite this leading position, the figure marked a 9.8 percent decline from the previous year. The average salary was calculated by dividing the total payroll for outside directors by the annual average number of directors employed by the company, CEO Score added. Following Samsung Electronics, SK Telecom Co. ranked second with an average salary of 156.8 million won. SK hynix Inc. recorded 153.7 million won, followed by SK Corp. with 152 million won and SK Square Co. with 146 million won. A total of 29 companies provided annual salaries of 100 million won or more on average to their outside directors last year. Among them, 26 were affiliates of South Korea's top four business groups -- Samsung, SK, Hyundai Motor and LG. Samsung Group led the list with 13 affiliates offering high outside director salaries, followed by SK Group with nine affiliates. Hyundai Motor Group and LG Group each had two affiliates on the list. (Yonhap)
Korea Herald
05-03-2025
- Business
- Korea Herald
Owner families in midsized firms need 3.8 yrs to rise to executive roles
Family members of owners of midsized companies in South Korea take less than four years on average to be promoted to executive management positions, a market tracker said Wednesday. A survey of the top 100 medium-sized businesses with total assets of less than 5 trillion won ($3.4 billion) each as of 2023 revealed that 101 out of 237 executives were members of the owning families, according to CEO Score. These individuals began their careers at their family-run companies at the average age of 30.7 and were promoted to executive roles at 34.5. In comparison, family members in large corporations reached executive positions slightly later, at the average age of 34.8, after joining their companies at 30.4. On average, it took 12.3 years for family members in midsized firms to advance to the position of president, slightly less than 12.9 years in large corporations. Notably, 33 family members in midsized firms were appointed to executive positions immediately upon joining the company. Hur Jin-soo, president of food company SPC Group, parent of bakery brand Paris Baguette, and Hyundai Group Chairwoman Hyun Jeong-eun are some of the examples. On the other hand, Ottogi Chairman Ham Young-jun had the longest journey to an executive position, taking 22 years to be promoted. (Yonhap)
