Six large-cap companies see rankings fluctuateSix of Korea’s 10 largest-cap companies have seen their rankings change this year in step with fluctuating business conditions, data showed Thursday.
According to the data from Korea Exchange, Naver, the operator of the country’s top Internet portal, rose to fourth in terms of market value as of Wednesday from sixth at the end of last year.
Naver’s ranking was boosted by solid growth in the Internet ad market, the main source of revenue for the company. Posco edged up one spot to eighth on expectations for a recovery in the steel industry, with Shinhan Financial rising one slot to ninth. In contrast, state-run utility company Kepco, top auto parts maker Hyundai Mobis and life insurer Samsung Life Insurance suffered setbacks.
Kepco slid one spot to fifth following the government’s temporary shutdown of eight aged thermal power plants as part of efforts to reduce the country’s air pollution.
Hyundai Mobis saw its ranking drop to sixth from fifth, with Samsung Life Insurance sinking three spots to 10th.
Samsung Electronics retained its top spot, followed by chip giant SK Hynix and Hyundai Motor. Samsung C&T remained unchanged at seventh.