41% of top 100 firms change over decade: dataMadeinkoreablog
More than 40 percent of South Korea’s top 100 listed companies have changed over the past 10 years, with domestic-oriented firms unseating exporters, data showed Wednesday.
Twenty-four companies made it for the first time on this year’s top 100 company list in terms of market capitalization after making a stock market debut, and 17 did so thanks to better performances compared to their 2005 ranking, according to the data compiled by the local market researcher, CEO Score.
Of the 41 outgoing firms, 27 dropped off the list after going through losses and 14 disappeared due to de-listings or mergers.
Most of the newcomers were found to be companies that depend on domestic demand, with 36.6 percent in the food and beverage, service, and retail sectors.
Nearly 27 percent of the eliminated firms were exporters in IT, electronics, shipbuilding and construction fields, which dominated the list a decade ago, it showed.
Tech giant Samsung Electronics Co. maintained the top position, while top automaker Hyundai Motor Co leaped to second place from fourth over ten years, and the standing of state-run power monopoly, Korea Electric Power Corp. remains unchanged at third.
Of the major 100 companies in 2015, the food and beverage sector took up the largest share, or 9 percent, followed by eight entities in service, retail, and electronics fields, each, according to the data. (Yonhap)