Samsung, Hyundai Up, LG Out
By Jane Han
Staff Reporter
Samsung Electronics climbed 25 places to 62nd among the world's top 100 non-financial transnational corporations, according to rankings released by the United Nations Conference of Trade Development (UNCTAD), Wednesday.
In its World Investment Report 2008, the U.N. agency, which focuses on links between trade, investment and development, included two South Korean firms ― Samsung Electronics and Hyundai Motor ― in the top 100 roster. LG, which took 92nd last year, was bumped in the latest review.
The ranking is based on a company's total overseas assets, including sales and foreign national employment.
U.S.-based GE held the top position, followed by British Petroleum and Toyota, while Hyundai Motor trailed in 90th place.
Aside from Samsung and Hyundai, the U.N. report said only four other firms, including Hutchinson Whampoa and Petronas, from developing countries were included in the poll.
It said a total of 79,000 transnational companies currently run 790,000 subsidiaries around the world, and the production from these accounts for 11 percent of the world's GDP.
The report also said that revenue from overseas subsidiaries increased 21 percent from last year, amounting to $31 trillion.
UNCTAD said multinational enterprises are expediting their presence across borders, but the top 25 firms were still limited mostly to manufacturing and oil-related companies.
In a separate ranking that evaluates the top 100 firms in developing countries, South Korean firms performed better.
Samsung Electronics, the world's largest memory chip maker, was third, followed by Hyundai, up four notches at fifth place, and LG which dropped six spots to 10th.
Kia Motors and Hynix were also included in the top 100 list coming in at 20th and 34th, respectively.
The study said while transnational giants on average set up overseas offices in 41 countries, those from developing countries expand to about nine nations.