Hyundai Motor headquarters in Yangjae-dong (Image courtesy of Yonhap)
SEOUL, June 26 (Korea Bizwire) — In a year defined by economic uncertainty and global industry shifts, Hyundai Motor Group stood out as South Korea’s most impactful corporate force—fueling growth across sectors and surpassing all other conglomerates in total economic contribution.
According to data released Thursday by corporate tracker CEO Score, the automotive giant generated a staggering 359.4 trillion won (US$264 billion) in total economic value in 2024, a 6.1 percent increase from the previous year. This figure—measured through combined payments to employees, partner companies, tax contributions, and dividends—reflects the group’s far-reaching influence across the national economy.
Hyundai’s contribution accounted for 22.3 percent of the economic value produced by the country’s top 100 non-financial, non-state-run companies, up from 21.8 percent in 2023. Its nearest corporate rival trailed significantly at 247.1 trillion won, underscoring Hyundai’s widening lead.
Much of Hyundai’s value generation stems from its vast industrial network. In 2024 alone, the group funneled 306.6 trillion won to its partner companies, bolstering the health of South Korea’s extensive manufacturing supply chains. Employee wages totaled 34.1 trillion won, while 9.3 trillion won was paid in corporate taxes. Shareholders received 7.6 trillion won in dividends.
Among Hyundai’s affiliates, Hyundai Motor Co. led the charge with 115.2 trillion won in contributions, followed by Kia Corp. (86.6 trillion won) and Hyundai Mobis (52.2 trillion won)—each playing a key role in driving output, innovation, and job creation.
Behind the numbers is a deliberate strategy of inclusive growth. “We will continue to contribute to the national economy through shared growth with suppliers, value creation for shareholders, high-quality job creation, and social responsibility initiatives,” a Hyundai official said.
As global industries recalibrate around technological transformation and sustainability, Hyundai Motor Group appears not just prepared to adapt—but determined to lead, with its economic footprint now more prominent than ever on the national stage.
Kevin Lee (kevinlee@koreabizwire.com)
