Traditional wireless service leader SK Group has become a powerhouse in technology components and materials while retail conglomerate Lotte has turned into a chemical dynamo.

Hanwha Group whose name in the past had been associated with insurance has become a major manufacturer in chemicals while LG Group enhanced both soft and hard power through cosmetics and displays. Traditional field of electronics and technology was reinforced for Samsung Group, according to a study by the Maeil Business Newspaper comparing business performance of top 25 companies from 2012 to 2016.

SK Group’s best profit last year came from SK Hynix Inc. - the world’s second largest chipmaker that it had acquired in 2012. Its profit of 3.28 trillion won ($2.89 billion) made up 33.2 percent of the group’s income. Until 2012, SK Telecom Co. was the biggest contributor with income of 1.7 trillion won.

Chemical and battery-making SK Innovation Co. remained reliable cash cow, having been responsible for 32.7 percent of group profit last year and 40.6 percent in 2012.

Retail and food making conglomerate Lotte Group had Lotte Chemical Co. to thank for earnings as it brought home 2.5 trillion won income, or 62.3 percent of total profit. In 2012, Lotte Shopping was the only unit that generated a profit of more than 1 trillion won.

Hanwha Group whose profit mostly relied on Hanwha Life Insurance until 2012, now is led by Hanwha Chemical Corp., Hanwha Total Petrochemical Co. Hanwha Total Petrochemical earned a record-high operating profit of 1.47 trillion won and Hanwha Chemical raked in 779.2 billion won income last year.

Samsung Group’s reliance on Samsung Electronics Co. deepened. The world’s largest chip and smartphone maker made up 91 percent of total group income in 2016, up from 80 percent four years ago.

Hyundai Motor Group had its auto parts making unit Hyundai Mobis Co. compensate for losses incurred by its carmaker Kia Motors Corp. last year.

In LG Group, reliance on LG Chem Ltd. eased while LG Display Co. and LG Household & Healthcare Co. contributed bigger to the conglomerate income.

By Moon Il-ho

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]