Samsung Group affiliates log 23% drop in market cap
Published: 29 Dec. 2024, 17:31
![A flag with Samsung Electronics' logo at the company's headquarters in southern Seoul [NEWS1]](https://koreajoongangdaily.joins.com/data/photo/2024/12/29/3f19aab0-0d23-4cbe-b45e-08891000daae.jpg)
A flag with Samsung Electronics' logo at the company's headquarters in southern Seoul [NEWS1]
The combined market capitalization of Samsung Group's affiliates dropped about 23 percent in 2024 due to the sluggish performance of key affiliate Samsung Electronics, data showed Sunday.
The market value of Samsung's affiliates stood at 548.4 trillion won ($371.5 billion) as of Thursday, compared with 709.6 trillion won a year earlier, according to data compiled by Yonhap Infomax, the financial news arm of Yonhap News Agency.
Samsung Group has 22 affiliates listed on the local stock market, including Samsung Electronics, Samsung Biologics, Samsung C&T and Samsung Life Insurance.
The overall decrease came as shares of Samsung Electronics tumbled 31.71 percent this year, with those of Samsung SDI and Hotel Shilla falling 47.66 percent and 42.58 percent, respectively.
"Shares of Samsung Electronics are expected to trade within a limited range for the time being due to the downcycle of memory chips," said Kim Dong-won, a researcher at KB Securities.
Yonhap
yonhap
with the Korea JoongAng Daily
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