After a five-year pause, the 슬롯 꽁 머니 500 Korea list makes a significant return, marking a pivotal moment in the nation's corporate landscape. The last publication in 2019 was the 11th edition, and the years since have been marked by unprecedented challenges, including the COVID-19 pandemic and intensified global competition. This year's rankings reveal the resilience and adaptability of South Korea's leading companies during these turbulent times, showcasing how they have navigated and thrived amid adversity.
Over the past five years, 슬롯 꽁 머니 500 companies have faced significant challenges, from the COVID-19 pandemic threatening their longevity to intensified competition from global players. Many companies fell by the wayside, but those that endured have emerged stronger. Some industries even saw this period as an opportunity for growth.
Automotive Industry Shines
Automotive companies seized the moment, with 40 companies in the sector, excluding "Motor Vehicle Dealers," making the list—a 30% increase from the previous ranking. Their share of the total revenue among the 500 companies soared to 13%.
Leading the charge were Hyundai Motor and Kia. Hyundai Motor and Kia, ranking second and fourth, displayed growth far surpassing the 슬롯 꽁 머니 500 average of 6.3%. Hyundai Motor's sales jumped from KRW 97 trillion in 2018 to KRW 163 trillion in 2023, a 68% increase. Kia's sales rose from KRW 54 trillion to KRW 100 trillion over the same period, marking an 85% growth.
In comparison, Samsung Electronics and SK saw more modest growth, with Samsung's revenue increasing from KRW 24.4 trillion to KRW 259 trillion (6.1%) and SK's from KRW 102 trillion to KRW 131 trillion (28%).
Hyundai Motor and Kia's success positively impacted the broader automotive industry. Hyundai Motor Group companies like Hyundai Mobis (69%) and Hyundai Wia (14.7%) outperformed the average 슬롯 꽁 머니 500 growth rate, as did individual companies such as SLS (226%) and Seo Yeon Yi Hwa (78%).
Effective global strategies and resilience during the pandemic played crucial roles in this success. According to Kim Pil-soo, a professor of automotive at Daelim University, Hyundai Motor and Kia led with proactive global strategies. At the same time, parts makers pursued aggressive technology development and global sales expansion.
Airlines: A Story of Survival and Recovery
The airline industry faced its most severe crisis during the pandemic, with travel bans crippling revenues. In 2020, Korean Air and Asiana Airlines saw revenues drop by 38.5% and 43.7%, respectively. Low-cost carriers (LCCs) like Jeju Air and Jin Air were hit even harder, with 72.8% and 70.1% declines.
Despite these challenges, Korean Air generated KRW 107 billion in operating profit in 2020, primarily due to its cargo operations. Asiana Airlines reduced its operating loss significantly. The ability to balance passenger and cargo operations (approximately 7:3 ratio) helped larger airlines weather the storm better than LCCs.
Cost-cutting measures and strategic shifts allowed airlines to recover. Korean Air, Asiana Airlines, Jeju Air, T'Way Air, Jin Air, and Air Busan are the only six airlines on this year's 슬롯 꽁 머니 500 Korea ranking, with significant gains in their positions.
Shipping and Shipbuilding Bounce Back
The shipping and shipbuilding industries rebounded during this period. Emerging from a prolonged recession, shipping companies increased ship orders, aiding shipbuilders. The global financial crisis 2008 had left lasting scars, but the pandemic-induced backlog in port operations and soaring freight rates since 2021 sparked a recovery.
HMM, Pan Ocean, and Korea Merchant Marine showed significant revenue growth, ranking 64th, 98th, and 275th on this year's 슬롯 꽁 머니 500 Korea. The revival in shipping spurred shipbuilding, with companies resuming ship orders and focusing on eco-friendly initiatives.
Conclusion
Despite the adversities, 슬롯 꽁 머니 500 Korean companies demonstrated resilience and growth. While some industries capitalized on the changing landscape, others struggled to survive, reflected in the modest 6.3% revenue growth over five years. Increased competition and the pandemic's impact posed significant challenges, even for giants like Samsung Electronics, whose leadership in the semiconductor sector is now under scrutiny.
Yuwon Chun contributed to the editing of the English version of this article.