Samsung, Hyundai, Kia set to dominate profits of top 30 firms

Earnings of Samsung Electronics Co., and Hyundai Motor Co. and its affiliate Kia Motors Corp. are set to take up more than half of those of the local top 30 companies this year, an online financial information provider said Tuesday.

FnGuide Inc. estimated that the top three companies are expected to post a record 36.7 trillion won ($33 billion) in net profits this year, accounting for 55 percent of 67.5 trillion won in net profits forecast to be logged by the 30 companies.

That's up from 25.4 trillion won out of 57.3 trillion net profits earned by the 30 companies last year, and around an 11 percent rise, according to data compiled by the financial information provider.

Samsung Electronics is the world's largest smartphone maker by shipments and is facing off with Apple Inc. to vie for the $219 billion global smartphone market. Hyundai and Kia are flagship companies of Hyundai Motor Group, the world's fifth-largest carmaker.

Samsung Electronics' net profit could reach 22.7 trillion won this year, accounting for 34 percent of the estimated net profits of the 30 companies this year, FnGuide said.

The top three companies could post a record 41.3 trillion won in operating profit this year, accounting for 49.5 percent of the total estimated operating profits of the 30 companies, FnGuide said.

The estimate is the latest reminder of a deepening polarization of corporate performance in Korea. (Yonhap)