SEOUL, KOREA - All the while China's large companies have fast increased their size, Korean counterparts were unable to do the same and losing ground gradually. According to the "2014 Top-100 Ranking of Chinese, Japanese, and Korean Companies" compiled by Hankyung Business and Thomson-Reuters based on a survey on 9,506 publicly listed firms, the number of Chinese firms within the list in terms of market capitalization was 35, up eight from the 2010 survey.
Meanwhile, the number of Korean firms within the ranking shrank to 13 from 20 in 2010. As for the number of Japanese ones, it was 52, down one from four years ago. Of the Korean companies that made the list in 2010, 11 firms including LG Corp., Hyundai Heavy Industries, SK Energy, and KB Financial Group were pushed out of the list while four such as SK Hynix and Samsung Life were added to it.
Chinese and Japanese corporations dominated the top-ten list, with only Samsung Electronics taking the No. 4 spot. Comparing to the ranking in 2010, Samsung moved down one notch while Hyundai Motor was brought down one notch to No. 15.
Shin Seok-hoon, Federation of Korean Industries senior manager in charge of corporate policy, said, "Chinese companies are aggressively increasing their investment with their government on the back and Japanese counterparts are expanding their business territory on the back of the weak yen. Korean firms in response must be able to compete effectively with their rivals in China and Japan while the government allows the companies to grow without any regulatory obstacles."
저작권자 © Korea IT Times 무단전재 및 재배포 금지
