Samsung Electronics, Ncsoft Called Best-Run Companies

A private think tank picked Samsung Electronics Co. and Ncsoft Corp. as the best-run companies on Korea's two stock exchanges. Daishin Economic Research Institute, which is affiliated with Daishin Securities Co., said Tuesday that the chipmaker topped the list on the Korea Stock Exchange and the online game provider was the best Kosdaq-listed company.

The institute has rated company management annually and bases its analysis on growth, profitability, financial soundness, cash flow and dividend payoffs.

"Samsung was at a disadvantage in the growth category because of its already considerable size," said an analyst at Daishin, Choi Won-kwon, "but it did very well in the areas of profitability and financial stability, thanks to the boom in thin film transistor-liquid crystal displays last year."

Daishin gauged profitability on operating profit ratio and the rate of return on capital. Financial soundness was measured by interest coverage ratio and debt to total assets ratio.

Han Kuk Electric Glass Co., which makes glass for television screens, was tops overall among medium-sized firms. It was recognized in profitability for its marketing of high value-added products.

by Ha Jae-sik