Samsung Electronics has slipped seven spots to 21st place on Forbes’ annual list of the world’s largest publicly traded companies, down from last year.
In Forbes’ Global 2000 rankings, Samsung was placed 28th in revenue, 43rd in net income, 122nd in assets, and 23rd in market value. Forbes ranks the world’s leading companies annually based on their revenue, net income, assets, and market capitalization.
The decline in Samsng’s position is largely attributed to a global economic downturn, which resulted in a substantial loss of nearly 15 trillion won ($10.9 billion) in its semiconductor business.
Hyundai Motor Group, another prominent South Korean company, climbed to 93rd place, an improvement from 104th last year. Other Korean firms in the top 500 include Kia at 234th, KB Financial Group at 250th, Shinhan Financial Group at 304th, Hana Financial Group at 411th, POSCO at 412th, Hyundai Mobis at 465th, and Samsung C&T at 493rd.
Financial firms from the United States and China dominated the list. JP Morgan Chase retained its top position for the second consecutive year, followed by Berkshire Hathaway. The top ten also included Saudi Arabia’s Aramco, Industrial and Commercial Bank of China (ICBC), Bank of America, Amazon, China Construction Bank, Microsoft, Agricultural Bank of China, and Alphabet. Japan’s Toyota, ranked 11th, was the highest-ranked Asian company outside of China.
“Nvidia, with a market capitalization of $3 trillion, jumped more than a hundred spots to 110th. San Jose’s Super Micro Computer, which sells servers for data centers, debuted at 856th, underscoring the growing influence of AI,” Forbes noted.
