Hyundai Motor Market Value Has Expanded 80% This Year
The conglomerate led by Hyundai Motor Co. is cruising in the fast lane, with its total market value surging nearly 80 percent this year, the largest upward shift among Korea's 10 largest business groups, the Korea Stock Exchanged reported Thursday.The top 10 conglomerates' total market capitalization increased 17.2 percent this year, underperforming the benchmark Korea Composite Stock Price Index's 22.3 percent growth, the exchange report said.
According to the exchange's analysis of the conglomerates and their 70 publicly-traded subsidiaries, the market capitalization of the group led by Hyundai Motor stood at 12.7 trillion won ($9.7 billion) as of Wednesday, up from 7.1 trillion won on Jan. 2.
The exchange attributed the carmaker group's strong showing to rising auto exports and its separation from the struggling Hyundai Group. The share price of Hyundai Mobis, an auto parts maker unit of Hyundai Motor, shot up almost 300 percent from early this year; the carmaker gained more than 140 percent.
The SK Group was the only conglomerate among the top 10 groups whose market capitalization has shrunk this year, down 15.9 percent due to the steep decline in the market value of its mobile phone subsidiary, SK Telecom.
by Kim Hyun-chul
with the Korea JoongAng Daily
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