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Six of S. Korea's top 10 caps change spots

All News 08:59 June 15, 2017

SEOUL, June 15 (Yonhap) -- Six out of South Korea's 10 largest-cap companies have seen their rankings change this year in step with fluctuating business conditions, data showed Thursday.

According to the data from the bourse operator Korea Exchange, Naver Corp., the operator of the country's top Internet portal, rose to fourth in terms of market value as of Wednesday from sixth at the end of last year.

Naver's ranking got a boost from solid growth in the Internet ad market, the main source of revenue for the company.

Leading automaker POSCO edged up one spot to eighth on expectations for a recovery in the steel industry, with Shinhan Financial Group Co., a major South Korean banking group, also rising one slot to ninth.

In contrast, state-run utility company KEPCO, top auto parts maker Hyundai Mobis Co. and No. 1 life insurer Samsung Life Insurance Co. suffered setbacks.

Six of S. Korea's top 10 caps change spots - 1

KEPCO slid one spot to fifth following the government's temporary shutdown of eight aged thermal power plants as part of efforts to reduce the country's air pollution. Hyundai Mobis saw its ranking drop to sixth from fifth, with Samsung Life Insurance sinking three spots to 10th.

Top-cap Samsung Electronics Co. retained its No. 1 spot, followed by chip giant SK hynix Inc. and leading automaker Hyundai Motor Co. Samsung C&T Corp., the de facto holding company of the top conglomerate Samsung Group, remained unchanged at 7th.

Last year, eight out of the 10 largest-cap companies changed places, with two companies excluded from the list, according to the exchange.
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