The combined stock value of affiliates under South Korea's five largest conglomerates accounted for more than 50 percent of the country's total market capitalization amid a recent market rally, industry data showed Tuesday.
The total market capitalization of the country's three stock exchanges, including the main Korea Composite Stock Price Index and the secondary Korea Securities Dealers Automated Quotations, stood at 3,963.1 trillion won ($2.7 trillion) as of Nov. 3, sharply up from 2,310.9 trillion won tallied Jan. 2, according to the data compiled by corporate tracker Leaders Index.
The benchmark KOSPI surged nearly 76 percent to close at 4,221.87 points on Nov. 2 from 2,398.94 points at the beginning of the year.
The combined market capitalization of large business groups listed on the Korea Fair Trade Commission's watch list jumped 82.4 percent from 1,661.7 trillion won to 3,030.5 trillion won over the same period.
The top five conglomerates -- Samsung Group, SK Group, Hyundai Motor Group, LG Group and HD Hyundai Group -- accounted for 52.2 percent of the total market value as of Nov. 3, up from 45.9 percent on Jan. 2, driven mainly by sharp gains in Samsung and SK shares.
Samsung Group saw the combined market cap of its 17 listed affiliates surge 87.3 percent to 943.4 trillion won from 503.7 trillion won over the cited period, raising its share to 23.8 percent.
SK Group's 21 affiliates posted 572.3 trillion won in market cap, up 185.7 percent from 200.3 trillion won, accounting for 14.4 percent of the total market capitalization.
Hyundai Motor Group became the third-largest conglomerate in terms of market cap, with a 4.9 percent share, followed by LG Group at 4.8 percent and HD Hyundai Group at 4.3 percent. (Yonhap)
