For the first time, SK Group has surpassed Samsung Group in operating profit among South Korea’s major conglomerates, based on 2024 management performance. Samsung, however, continued to lead in revenue, net profit, and employment.
On June 25, the Korea CXO Institute, a corporate analysis firm, released a report evaluating the 2024 performance of South Korea’s leading business groups. The study compared 92 conglomerates with total assets exceeding 5 trillion won ($3.6 billion), as defined by the Fair Trade Commission.
According to the report, Samsung posted the highest revenue among the groups, recording 399.64 trillion won ($293 billion) in 2024. The company also ranked first in net profit, with 41.60 trillion won ($30 billion), and in total workforce, employing 284,761 people.
In operating profit, SK narrowly overtook Samsung for the first time, reporting 27.14 trillion won ($20 billion) compared to Samsung’s 27.04 trillion won. The shift was largely attributed to the strong earnings of SK hynix, the group’s key affiliate, which generated 21.33 trillion won ($15 billion) in operating profit—nearly 9 trillion won more than Samsung Electronics, which recorded 12.36 trillion won ($9 billion).
SK also topped the rankings in net profit growth. After posting just 658.2 billion won ($482 million) in net income in 2023, the group saw that figure jump to 18.36 trillion won ($13 billion) in 2024.
Hyundai Motor Group followed Samsung in three major categories: revenue (292.12 trillion won), net profit (23.77 trillion won or $17 billion), and employment (203,915 workers). While the group led in operating profit two years earlier, it dropped to third place in 2024 with 18.53 trillion won ($13 billion), trailing both SK and Samsung.
