SK rises as second most valuable conglomerate, data firm says

SK's headquarters in central Seoul [YONHAP]

SK Group, Korea's chip-to-battery conglomerate, emerged as the second most valuable conglomerate after Samsung Group on the Korean stock markets at the end of March, a corporate data firm said Tuesday.

SK Group's emergence was helped by a sharp increase in the value of its chip-making affiliate, SK hynix, on the Korea Exchange (KRX) in the first three months of the year, according to a report released by the Korea CXO Institute.

SK hynix, the world's second largest maker of memory chips, saw its market capitalization jump 29 percent to 133.22 trillion won at the end of March from 103.67 trillion won in early January on recovering chip demand, CXO said.

In contrast, LG Group ranked as the third most valuable conglomerate at the end of March, down from the No. 2 position in early January mainly due to declines in the value of its major affiliates, such as car battery maker LG Energy Solution and chemical firm LG Chem, the institute's director, Oh Il-seon, said.

LG Energy Solution's market capitalization fell 8 percent to 92.43 trillion won from 100.5 trillion won during the cited period.

The country's overall value of listed stocks, except for preferred shares, increased 3.8 percent, or 96 trillion won, to 2,599 trillion won at the end of March from 2,503 trillion won in early January, the institute said.

Samsung Group's market value stood at 754.52 trillion won at the end of March, followed by SK Group's 207.75 trillion won and LG Group's 177.31 trillion won.

Yonhap