South Korean media: The growth rate of Chinese companies in the Global 2000 is 6.3 times that of South Korean companies!
On October 19, the South Korean media "Herald Economy" published an article stating that according to an analysis of the growth of the Global 2000 companies over the past 10 years, the growth rate of large Chinese companies is 6.3 times that of South Korean companies. 92 Chinese companies, mainly in the high-tech industry, have entered the list for the first time, while South Korean companies have stagnated, with four companies falling off the list.
Recently, a report released by the Korea Chamber of Commerce and Industry analyzed the data from the American business magazine Forbes, which showed that the number of U.S. companies on the Global 2000 list increased from 575 ten years ago to 612 this year. At the same time, the number of Chinese companies also increased significantly, from 180 to 272. In contrast, the number of South Korean companies decreased from 66 to 62.
The growth rate of the corporate ecosystem also shows significant differences. Over the past decade, the total sales of South Korean companies that made it into the Global 2000 list increased by 15%, from $1.5 trillion to $1.7 trillion. By comparison, China's sales nearly doubled, increasing from $4 trillion to $7.8 trillion, at a growth rate 6.3 times that of South Korea. The Korea Chamber of Commerce and Industry explained, "The Chinese corporate ecosystem has been continuously expanding by giving rise to 'new strong players'."
The growth of the United States and China is mainly driven by IT companies. The revenue of major U.S. IT companies increased by 2787%, including NVIDIA (3787%), UnitedHealth (314%), Microsoft (281%), and CVS Health (267%). New entrants such as Tesla and Uber have also accelerated the growth of the corporate ecosystem.
In China, Alibaba's sales increased by 1188%, BYD increased by 1098%, Tencent Holdings increased by 671%, and BOE Technology increased by 393%. In addition, companies such as China Power Construction, Xiaomi, Didi Chuxing, and Shenzhou Digital have also entered the Global 2000 list, covering multiple industries such as energy, manufacturing, and IT.
In contrast, the drivers of South Korea's economic growth are traditional manufacturing and finance, not cutting-edge industries. SK Hynix had a growth rate of 215%, KB Financial Group had a growth rate of 162%, Hana Financial Group had a growth rate of 106%, and LG Chemical had a growth rate of 67%. The newly listed companies in the Global 2000 list were also mainly financial institutions, such as Samsung Securities and Kakao Bank.
Some people pointed out that the reason for the slow development of the South Korean corporate ecosystem lies in the domestic regulatory system. The Korea Chamber of Commerce and Industry stated, "The structure of the South Korean corporate ecosystem is regressive. As companies develop, support decreases while regulations increase, leading to a lack of motivation for companies to take risks and develop."
Original: www.toutiao.com/article/1846394278517900/
Statement: This article represents the views of the author.