Korea’s top 10 conglomerates saw their companies‘ sales decline at a sharper rate than the nation’s corporate average last year, according to data released Sunday.
Market information provider FnGuide said in its report that combined sales at 68 of the top 10 business groups’ listed affiliates stood at 1,010.7 trillion won ($877.1 billion), a 3.31 percent drop from the previous year.
Companies listed on the Korea Stock Composite Price Index fell by an average of 3.01 percent.
By conglomerate, seven of the top 10 groups suffered sales reductions, whereas GS, Hanwha and Hyundai Motor groups registered sales increases of 11.49 percent, 8.1 percent and 4.25 percent, respectively. Notably, SK Group suffered a dive of 15.73 percent, while POSCO and Hyundai Heavy Industries also reported double-digit falls of 11.39 percent and 10.02 percent, respectively.