Pocheon: China Surpasses the US for the First Time in 'World's Top 500 Companies'... Samsung Ranks 19th (Comprehensive)

China 124, USA 121, Korea 14
Hyundai Motor 84th · SK 97th... US Walmart 1st

[Asia Economy Reporter Dongwoo Lee] Samsung Electronics ranked 19th in the 'Global 500 Companies' selected by Fortune, a leading U.S. business magazine. This is a drop of 4 places from last year (15th), marking a decline for the third consecutive year. The total number of Korean companies in the top 500 decreased by 2 to 14. On the other hand, the number of Chinese companies reached 124, surpassing the U.S. (121) for the first time in history.

According to Fortune on the 11th, Samsung Electronics ranked 19th among the top 500 companies with sales of $197.7 billion last year (based on consolidated financial statements). Fortune annually selects and announces the top 500 global companies based on sales.

Samsung Electronics ranked 14th in 2013, maintained 13th place from 2014 to 2016, then dropped 2 places to 15th in 2017. In 2018, it achieved its highest-ever ranking at 12th.

Fortune explained, "Samsung Electronics' sales decreased by nearly 11% this year, and profits dropped by more than half," adding, "The downturn in the memory semiconductor industry caused a 4-place drop this year." Fortune also mentioned intensified smartphone competition with Huawei, allegations of union busting at Samsung, and judicial risks related to Vice Chairman Lee Jae-yong's succession of management rights.

Among Korean companies, Hyundai Motor rose 10 places to 84th from 94th last year. Following were SK (97th), POSCO (194th), LG Electronics (207th), Korea Electric Power Corporation (227th), Kia Motors (229th), Hanwha (277th), Hyundai Mobis (385th), KB Financial Group (426th), CJ (437th), GS Caltex (447th), Samsung Life Insurance (467th), and Samsung C&T Corporation (481st).

China's remarkable progress stood out. This year, 124 Chinese companies made the Global 500 list, surpassing the U.S. (121) for the first time to claim first place. Including Taiwan, the number of Greater China companies reached 133.

Cliff Leef, an executive at Fortune, said, "When the Global 500 list first appeared in 1990, no Chinese companies were included," adding, "China's economy has surged over the past 30 years, fueled by increased trade."

U.S. Walmart maintained its top position with sales of $524 billion, up 1.9% from the previous year. However, Chinese state-owned oil companies Sinopec, State Grid Corporation of China, and China National Petroleum Corporation took 2nd to 4th places. Royal Dutch Shell, a joint venture between the Netherlands and the UK, Saudi Arabia's oil company Aramco, and German automaker Volkswagen followed.

The gap between Chinese and Korean companies also widened. This year, 25 companies newly entered the rankings, with 8 being Chinese companies. In contrast, no Korean companies newly entered the list this year.

This content was produced with the assistance of AI translation services.