Seoul: The combined assets of South Korea's top five conglomerates surged by 445 trillion won (US$310.7 billion) over the past five years, with Samsung, SK, and Hyundai Motor Group leading the growth, a local corporate tracker said Wednesday.

According to Yonhap News Agency, the total assets of the five leading business groups, including LG and Lotte, reached 1,588 trillion won in 2024, marking a 39 percent increase from 1,143 trillion won in 2019. This data was compiled by CEO Score, which analyzed 52 conglomerates with comparable asset data between 2019 and 2024. The study found that their combined assets increased by 811.8 trillion won, or 42.8 percent, to 2,709.1 trillion won last year from 1,897.3 trillion won in 2019.

Samsung Group posted the largest single-group increase, with its assets rising 164 trillion won, or 38.7 percent, from 424.8 trillion won to 589.1 trillion won during the cited period. SK Group's assets expanded by 137.4 trillion won, or 60.9 percent, from 225.5 trillion won to 362.9 trillion won. Meanwhile, Hyundai Motor Group's assets climbed 71.9 trillion won, or 30.6 percent, from 234.7 trillion won to 306.6 trillion won.

CEO Score noted that the increased corporate value of SK hynix contributed to SK Group's asset growth, while strong global sales and expansion into electric vehicle batteries and mobility solutions boosted Hyundai Motor Group's asset growth. Samsung, SK, and Hyundai Motor Group also maintained their positions as South Korea's top three conglomerates in terms of revenue and operating profit over the same period.

Among the 52 groups surveyed, only three-Kyobo Life Insurance Co., Booyoung Group, and Doosan Group-saw their total assets decline compared with five years earlier.