Companies under South Korea’s five largest conglomerates -- Samsung, SK, Hyundai Motor, LG and HD Hyundai -- account for more than half of the country's stock market value after a blistering semiconductor rally that sent the benchmark Kospi index past 4,000 for the first time, industry data showed Tuesday.
The combined market capitalization of the main Kospi and the secondary Kosdaq and Konex exchanges jumped 71.5 percent to 3,963.1 trillion won ($2.71 trillion) as of Nov. 3, up from 2,310 trillion won on Jan. 2, according to data compiled by market tracker Leaders Index.
During the same period, the total market capitalization of 368 listed units under 91 large business groups climbed 82 percent to 3,030 trillion won, accounting for 76.47 percent of the nation’s entire stock market.
Market concentration among the top five conglomerates -- Samsung Group, SK Group, Hyundai Motor Group, LG Group and HD Hyundai Group –- rose to 52.2 percent as of Nov. 3 from 45.9 percent at the beginning of the year, fueled largely by strong performances by chipmakers Samsung Electronics and SK hynix.
Together, Samsung and SK make up nearly 40 percent of the total market. The value of Samsung’s 17 listed subsidiaries soared 87 percent to 943 trillion won, while SK’s 21 affiliates skyrocketed 186 percent to 572 trillion won over the same period.
Hyundai Motor Group came in third, with a combined market cap of 194 trillion won, representing 4.9 percent of the total, while LG Group followed closely in fourth place with 191 trillion won, or 4.8 percent. HD Hyundai came next at 168 trillion won, accounting for 4.3 percent.
Doosan Group joined the top 10 for the first time, buoyed by a sharp rise in shares of Doosan Enerbility and its holding company. The group’s combined market value surged 244 percent from January to November to 90 trillion won.
sahn@heraldcorp.com
