The western countries are known for housing some of the best companies and brands in the world. But Asia has been no less in recent times. Particularly, South Korean companies have gained global recognition for their innovation, quality, and competitive edge. But did we know which of our most favorite and famous companies in the world are Korean? Let’s discuss it in this article.
Another USP of these companies has been that they make a significant investment in research and development. As a result, you will find that the best Korean Tech Giants have made their niche in the international market.
For example, in 2022, Samsung Electronics spent a total of approximately 24.92 trillion South Korean dollars on research and development. So, it has been able to make its vital place in advanced technologies like semiconductors, displays, and mobile devices.
In addition, they have a collaborative culture between large business groups (chaebols) and smaller tech startups in South Korea. This unique collaboration facilitates better sharing of ideas and acceleration of product development cycles. Lastly, the government’s active role in establishing special economic zones, providing subsidies, and encouraging exports has been the perfect support.
Do you want to know which Leading Korean Corporations are in the international market? If so, we have listed the most famous Korean companies in the world.
The Most Famous Companies In The World Are Korean? Umm, Yes:
1. Samsung
Samsung is arguably the most well-known South Korean company globally. We have all heard about its electronics and smartphones, which are familiar names in the Indian market.
With its headquarters in Suwon, it is a multinational conglomerate with over 300,000 employees. Also, it has several consumer brands and products, from electronics to telecommunications etc.
It was founded in 1938 as a trading company. But, later, it became this big brand. It manufactures internal components like memory chips and displays for its smartphones and TVs.
Samsung has shaped itself into one of the largest tech companies in the world by revenue nearing approximately $200 billion.
2. Hyundai Motor Company
Hyundai Motors is one of the biggest vehicle manufacturers in the world. It was founded in 1967 and headquartered in Seoul, Hyundai. The company is one of the “Big Four” Asian automakers.
The company makes over 5 million vehicles every year for the global market. Consequently, it has emerged as one of the top Motor brands in countries like the US, Brazil and China.
Hyundai has a niche in making affordable and high-quality cars. Some of its popular models include the Hyundai Sonata, Elantra, and Tucson.
3. LG Corporation
Apart from Samsung, LG Corporation is another Korean tech giant. It manufactures electronics like TVs, home appliances, mobile devices, and more. The company was established in 1947. Over the years, it has over 75 subsidiaries in the LG Corporation.
It’s the second-largest Korean conglomerate after Samsung in terms of revenue. Specialising in home appliances and TVs, it has been a preferred brand in India for its quality products. Some key focus areas for LG are consumer goods, home entertainment and vehicle components.
4. Kia Motors
Like LG in Electronics, Kia Motors is the second largest automobile manufacturer after Hyundai. The latter owns a significant stake in Kia Motors. It was founded in 1944.
Kia Motor produces more than 1.4 million vehicles per year globally. It is particularly popular in the United States and emerging markets like India. Its automobiles are known for their stylish, feature-rich designs and value for money.
Kia Motors’ best-selling models are the Kia Sportage, Sorento, and Telluride.
5. SK Group
Apart from Electronics and Automobiles, South Korea also takes pride in improving in the energy and chemicals sector. For instance, the SK Group is among the largest conglomerates in the country in industries like energy, chemicals, telecom, semiconductors, etc.
It was founded in 1953 as SunKyung. However, it was later renamed to SK Group in 1997. The company makes a massive revenue of over $100 billion, making it one of the biggest chaebols. SK Group has more than 175 operating companies.
It employs over 100,000 employees globally. SK Group is the world’s 2nd largest memory chipmaker through SK Hynix. Further, SK Group owns SK Telecom, SK Innovation and SK Holdings.
6. POSCO
POSCO is the world’s fifth-largest steelmaking company by output. Again, this testifies to South Korean Talent’s business acumen and capability.
It was founded in 1968. They played a significant role in South Korea’s industrialisation. It makes a massive annual output of over 40 million metric tons of steel. For it, they use cutting-edge facilities and advanced technologies for steel production. Moreover, it is an environmentally responsible corporation.
Final Words
South Korea has become well-known for its K-pop culture. But apart from that, it has been known to be a hub for being the home ground for leading global brands. In addition, there are several emerging giants in e-commerce and other sectors with sights set on a worldwide expansion that will take this stride forward for the country.
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