Korean Multinationals Show Solid Recovery After Global Crisis
Korean multinationals show solid recovery after global crisis Report dated November 16, 2010 EMBARGO: The contents of this report must not be quoted or summarized in the print, broadcast or electronic media before November 16, 2010, 10:00 a.m. Seoul; 1 a.m. GMT, and 9:00 p.m. November 15, 2010, New York. Seoul and New York, November 16, 2010 The Institute of International Affairs of the Graduate School of International Studies (GSIS) at Seoul National University in Seoul, and the Vale Columbia Center on Sustainable International Investment (VCC) at Columbia University in New York, are releasing the first annual report on leading Korean multinationals. The research for this report was conducted in 2010 and covers the period 2007 to 2009. 1 Highlights The Republic of Korea (henceforth ‘Korea’), the 11 th largest economy in the world, has now become one of the leading investors abroad. The number and the size of the corporate giants that dominate the economy have increased over the years, boosting and diversifying their investments around the world. Korea’s multinational enterprises ranked by their foreign assets (see table 1 below) show about USD 93 billion in assets held abroad. 2 Samsung Electronics Co., Ltd. (SEC), a member of a leading Korean conglomerate, ranked 1 st with slightly over USD 18 billion, followed by another top conglomerate member, LG Electronics, with over USD 10 billion dollars. Hyundai Heavy Industries Co., Ltd, and DSME Co., Ltd, had foreign assets of over USD 8 billion each and LG Display had over USD 6 billion. The top five firms together accounted for just over half of the total foreign assets of the top 20 companies.
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