Published on 24 Feb 2023 on Insider Monkey via Yahoo Finance

16 Most Valuable Korean Companies In The World

In this article, we will discuss the 16 Most Valuable Korean Companies In The World. You can skip our industry overview and go directly to the 5 Most Valuable Korean Companies In The World.

The economy of South Korea is the 13th largest economy in the world, with a nominal GDP of $1.73 trillion in 2022. The GDP per capita in Korea stood slightly above $33000 in 2022. Over the past few decades, South Korea has undergone a remarkable transformation from an agricultural-based economy to a new, technologically advanced, industrialized economy, which has been facilitated by government policies aimed at promoting economic growth.

Industries such as automobiles, electronics, chemicals, steel, shipbuilding, and textile hold great significance in Korea. Statistics from World Bank reveal that these industries contributed to 32.4% of GDP in 2021. The lax policies of the government and ease of doing business have ensured that large conglomerates continue to operate out of South Korea. The policy measures taken by the government to spur economic growth in the country include investment in research and development, support for small and medium-sized enterprises, and tax incentives for businesses. The government has also made significant investments in infrastructure, including roads, ports, and airports, to support the country's export-oriented economy. It is no surprise that South Korea ranks 19th on the list of the 2022 Index of Economic Freedom with a freedom score of 74.6.