The photo shows Hyundai Motor’s and Kia’s headquarters in Yangjae, southern Seoul. (Image provided by Hyundai Motor Group)
SEOUL, Nov. 16 (Korea Bizwire) –Hyundai Motor Co., South Korea’s top automaker, is expected to post the biggest operating profit among local listed firms in 2023, outstripping perennial leader Samsung Electronics Co., a corporate tracker said Thursday.
Samsung Electronics has remained atop the operating income list since 2009, but its operating income is forecast to tumble this year on plunging chip sales from last year’s 22.3 trillion won (US$17.1 billion).
According to CEO Score, Hyundai Motor is highly likely to overtake Samsung Electronics as the top operating income earner this year, given their track records in the first three quarters of 2023.
Bolstered by robust sales across the globe, Hyundai Motor registered the largest consolidated operating income of 11.7 trillion won among local listed companies in the January-September period.
In contrast, Samsung Electronics recorded an operating profit of 3.7 trillion won in the nine-month period.
Kia Corp., the country’s No. 2 automaker and Hyundai Motor’s affiliate, placed second with an operating profit of 9.1 trillion won.
On a separate basis, Kia is likely to emerge as the top operating income earner among listed companies this year, according to CEO Score.
Kia’s separate operating income came to 4.96 trillion won in the first nine months of this year, with that of Hyundai Motor reaching 4.37 trillion won.
(Yonhap)
