Korea¡¯s top five business groups lose $148 billion in market value in H1

The market value of listed members of South Korea¡¯s top 5 business groups dwindled more than 180 trillion won ($138.9 billion) in the first half when the main Kospi lost 22 percent.

The combined market cap of 64 listed companies under the umbrella of Korea¡¯s five largest business groups Samsung, SK, Hyundai Motor, LG, and Lotte sank 15.8 percent to 969.2 trillion won on July 1 from 1,151.28 trillion won on January 3.

SK Group was the biggest loser with market cap shrinking 31.4 percent from 208.8 trillion won to 143.3 trillion won. The market cap of Samsung Group was knocked out by 23.2 percent to 515.05 trillion won from 670.9 trillion won.

Twelve units under Hyundai Motor Group lost 12.7 percent in combined market cap from 129.9 trillion won to 113.3 trillion won. The combined market cap of 10 units under LG Group jumped 46.4 percent to 176.5 trillion won from 120.6 trillion due to LG Energy Solution joining in January. If not for the battery maker, LG market cap would have been shaved by 22.8 percent.

Lotte Group survived the rout relatively well with combined market cap of 11 units under Lotte Group falling just 0.7 percent to 21.03 trillion won from 21.18 trillion won. The market cap of Lotte Chilsung Beverage soared 31.7 percent to 1.6 trillion won from 1.2 trillion won on expectations for strong sales of alcohol drinks along with reopening of sport games.

Lotte Shopping¡¯s market cap also expanded 16.3 percent to 2.8 trillion won from 2.4 trillion won and Lotte Corp. 26 percent.

SK Group companies were entirely defeated. The market cap of SK Group units that joined the stock market last year more than halved – SK bioscience 57.6 percent, SK ie technology 46.3 percent, and SK square 41.4 percent. Its flagship SK hynix lost 30 trillion won while others like SK gas shed 6 percent, SK telecom 7.7 percent, and SK reit 7.9 percent.

Of the listed companies under top Samsung Group, Samsung Electro-Mechanics lost most with 34.4 percent decline in its market cap from 14.5 trillion won to 9.5 trillion won. Samsung Electronics shed 28.5 percent or more than 130 trillion won in its market cap. Samsung C&T, de facto holding company of Samsung Group, saw its market cap grow 4.3 percent and Samsung Heavy Industries, shipbuilder boasting liquefied natural gas (LNG) carriers 4.8 percent despite the bearish market.

Of the units under Hyundai Motor Group and LG Group, Hyundai Wia and LG Display were biggest losers with market cap declining 30.6 percent and 42 percent respectively. Hyundai Glovis was the only group family whose market cap rose 4.64 percent.

The market cap of LG Household & Health Care and LG Electronics under LG Group fell 38 percent and 35.6 percent each while holding firm LG lost 3 percent, LG Uplus 4.4 percent, and LG Innotek 8 percent.

[¨Ï Maeil Business Newspaper & mk.co.kr, All rights reserved]