By Choi Sung-jin
The market capitalization of Korea's 10 largest conglomerates has increased nearly 3 percent this year with Hyundai Heavy Industries Group receiving the best report card, market watchers said Saturday.
According to FnGuide, a financial information provider, the aggregate market value of 88 stocks affiliated with the 10 largest business groups totaled 663.92 trillion won ($590.15 billion) on closing prices Tuesday, up 2.96 percent, or 19.7 trillion won, from Dec. 30, the final trading day of last year.
The Hyundai Heavy Industries Group, which has the world's largest shipbuilder, marked the steepest rise in market cap of 49.04 percent, from 7.71 trillion won to 11.49 trillion won.
It was thanks mainly to Hyundai Heavy Industries' recording of gains in the two consecutive quarters through swift restructuring, which in turn pushed up its share price from 87,800 won to 132,500 won over the cited period, the financial guide said. Hyundai Heavy's share price shot to 145,000 won during midday trading on Sept. 6, marking a new high for 52 consecutive weeks.
The POSCO Group was the runner-up with a 31.46 percent increase in its market cap. The stock price of POSCO shares, the market leader among the nation's steelmakers, jumped almost 35 percent, from 166,500 won to 224,000 won, leading the rise in the entire group's aggregate market value from 18.16 trillion won to 23.88 trillion won.
POSCO's share prices have recently shown strength, reflecting the expectations about rises in international steel prices as a result of the long-awaited restructuring by Chinese steelmakers, which had long dampened the market with their overcapacities and oversupplies.
The SK Group and the Samsung Group ranked third and fourth, with market cap growth rates of 6.43 percent and 6.16 percent, respectively.
Among SK subsidiaries, semiconductor maker SK Hynix and energy company SK Innovation were leading contributors recording increase rates of 22.93 percent and 16.54 percent, respectively. Samsung Electronics (16.56 percent) and Samsung Card (72.77 percent) have also led the market cap increase of the nation's largest family-controlled conglomerate, called chaebol.
On the other hand, the LG Group and the Lotte Group saw their market caps fall by double-digit rates of 10.41 percent and 10.25 percent.
LG Group's market capitalization dropped from 79.24 trillion won to 70.99 trillion won, as share prices of its major affiliates performed poorly. The market caps of LG Innotec, LG Chemical and LG Electronics shrank by 20.81 percent, 27.70 percent and 7.06 percent, respectively.
Lotte Group, which has been under a protracted investigation by the prosecution, also saw its market cap slide from 25.77 trillion won to 23.13 trillion won. Lotte's food and beverage subsidiaries _ Lotte Chilsung, Lotte Confectionary and Lotte Food _ saw their market value plunge 31.84 percent, 28.97 percent and 31.40 percent, respectively, during the period.
The market capitalization of Korea's 10 largest conglomerates has increased nearly 3 percent this year with Hyundai Heavy Industries Group receiving the best report card, market watchers said Saturday.
According to FnGuide, a financial information provider, the aggregate market value of 88 stocks affiliated with the 10 largest business groups totaled 663.92 trillion won ($590.15 billion) on closing prices Tuesday, up 2.96 percent, or 19.7 trillion won, from Dec. 30, the final trading day of last year.
The Hyundai Heavy Industries Group, which has the world's largest shipbuilder, marked the steepest rise in market cap of 49.04 percent, from 7.71 trillion won to 11.49 trillion won.
It was thanks mainly to Hyundai Heavy Industries' recording of gains in the two consecutive quarters through swift restructuring, which in turn pushed up its share price from 87,800 won to 132,500 won over the cited period, the financial guide said. Hyundai Heavy's share price shot to 145,000 won during midday trading on Sept. 6, marking a new high for 52 consecutive weeks.
The POSCO Group was the runner-up with a 31.46 percent increase in its market cap. The stock price of POSCO shares, the market leader among the nation's steelmakers, jumped almost 35 percent, from 166,500 won to 224,000 won, leading the rise in the entire group's aggregate market value from 18.16 trillion won to 23.88 trillion won.
POSCO's share prices have recently shown strength, reflecting the expectations about rises in international steel prices as a result of the long-awaited restructuring by Chinese steelmakers, which had long dampened the market with their overcapacities and oversupplies.
The SK Group and the Samsung Group ranked third and fourth, with market cap growth rates of 6.43 percent and 6.16 percent, respectively.
Among SK subsidiaries, semiconductor maker SK Hynix and energy company SK Innovation were leading contributors recording increase rates of 22.93 percent and 16.54 percent, respectively. Samsung Electronics (16.56 percent) and Samsung Card (72.77 percent) have also led the market cap increase of the nation's largest family-controlled conglomerate, called chaebol.
On the other hand, the LG Group and the Lotte Group saw their market caps fall by double-digit rates of 10.41 percent and 10.25 percent.
LG Group's market capitalization dropped from 79.24 trillion won to 70.99 trillion won, as share prices of its major affiliates performed poorly. The market caps of LG Innotec, LG Chemical and LG Electronics shrank by 20.81 percent, 27.70 percent and 7.06 percent, respectively.
Lotte Group, which has been under a protracted investigation by the prosecution, also saw its market cap slide from 25.77 trillion won to 23.13 trillion won. Lotte's food and beverage subsidiaries _ Lotte Chilsung, Lotte Confectionary and Lotte Food _ saw their market value plunge 31.84 percent, 28.97 percent and 31.40 percent, respectively, during the period.
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