SK Group tops South Korea's conglomerates with record profits
- SK Group's subsidiaries reported an operating profit of $20 billion last year.
- Samsung Group reported a profit of $19.9 billion.
- These trends position SK Group as potentially the most profitable company in South Korea for two consecutive years.
In South Korea, SK Group has become the most profitable conglomerate, surpassing Samsung Group based on performance in the memory chip sector. This change in ranking is largely attributed to the success of SK hynix, the second-largest memory chipmaker globally. According to data from the CXO Institute, SK Group's subsidiaries drew an impressive $20 billion in operating profit last year, while Samsung Group's profit was slightly lower at $19.9 billion. Notably, SK hynix alone contributed $17 billion to this total profit, marking a significant recovery from a previous loss of $5.68 billion in 2023. The shift in profitability is anticipated to continue into the current year, indicating a likely second consecutive year of leading profits for SK Group. Analysts from various reputed institutions also predict that SK hynix's profitability will outpace that of Samsung Electronics in 2025.