SEOUL, Aug. 1 (Korea Bizwire) — The market capitalization of South Korea’s conglomerates soared more than 350 trillion won (US$273.8 billion) this year amid a bullish trend in the country’s stock markets, data showed Tuesday.
The combined value of a total of 338 listed companies owned by 73 business groups reached 1.77 quadrillion won as of Friday, up 24.6 percent from 1.42 quadrillion won tallied Jan. 2, according to the data compiled by corporate research institute Leaders Index.
Of the conglomerates, the market cap of 44 groups increased and that of 29 decreased.
The top four groups retained their respective positions, led by Samsung Group with 616.3 trillion won in market cap, up 98.2 trillion won over the cited period.
LG Group, SK Group and Hyundai Motor Group trailed behind, with a market cap of 226.7 trillion won, 168.9 trillion won and 123.3 trillion won, respectively.
POSCO Group advanced one step to fifth place as its market cap jumped 70.6 trillion won to 112.5 trillion won over the cited period thanks to a spike in prices of secondary battery shares.
Ecopro Group, which owns battery companies at the center of investors’ recent massive purchase, saw its market cap soar nearly 58 trillion won to 70.6 trillion won, jumping to sixth place from 15th.
IT and entertainment giant Kakao Group sank two steps to seventh place, while major shipbuilder HD Hyundai Group rose one step to eighth place.
Pharmaceutical giant Celltrion Group dropped to ninth place, and Naver Group, which operates the country’s biggest internet portal, fell to 10th place.
According to Leaders Index, about 78 percent of the market cap increase came from semiconductor and battery companies, including Samsung Electronics Co., SK hynix Inc. and LG Energy Solution.