Half of Korea’s 30 largest business groups experienced a change in their rankings over the past year, according to data released on Wednesday.

In particular, Hanjin Group that has lost once the world’s seventh largest container carrier Hanjin Shipping, which is on the verge of liquidation following last year’s court protection, was kicked out of the top 10 list and Shinsegae Group filled the vacuum, debuting on the top 10 list for the first time. Shinsegae Group is Korea’s retail tycoon that owns the country’s largest discount store E-Mart that has excelled in the recent years with the successful launch of warehouse store business Traders and the country’s largest shopping mall complex Starfield Hanam.

Kolon Group got its name on the top 30 list, while Hyundai Group was removed from it. The rankings are based on the measure of equity and liability compiled by business performance evaluator CEO Score as of end-September of 2016.

The combined assets of 1,183 subsidiaries belonging to the top 30 conglomerates amounted to 1,560.35 trillion won ($1.34 trillion). The number of their affiliates increased 13 companies or 1.11 percent from a year ago, while assets gained 17.88 trillion won or 1.2 percent.

There was no change in the rankings of the first nine business groups. Samsung Group remained top of the list with 59 affiliates and an asset value of 350.75 trillion won. It was followed by Hyundai Motor Group (51 affiliates, 209.62 trillion won in asset), SK (89 affiliates, 163.81 trillion won in asset), LG (72 affiliates, 109.37 trillion won in asset), Lotte (94 affiliates, 108.89 trillion won in asset), Posco (38 affiliates, 76.94 trillion won in asset), GS (68 affiliates, 61.05 trillion won in asset), Hanwha (60 affiliates, 59.99 trillion won in asset) and Hyundai Heavy Industries (26 affiliates, 52.23 trillion won in asset).

Among the top 30 performers, nine conglomerates saw their rankings rise, including Shinsegae soaring into the top 10 list for the first time, KT (+1), Daelim (+1), Mirae Asset (+6), S-Oil (+3), Youngpoong (+2), KCC (+2), KT&G (+1) and Kolon (new on the list).

In contrast, six conglomerates fell in the rankings: Doosan (-1), Hanjin (-3), Daewoo Shipbuilding & Marine Engineering (-2), Kumho Asiana (-1), Hyundai Department Store (-1) and OCI (-2).

By Kim Jung-hwan

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