Samsung Group posts market capitalization of 719 trillion won

Boosted by the surge in stock prices of key affiliates, the combined market capitalization of Samsung Group’s 23 listed firms soared over 200 trillion won within the year to reach 719.13 trillion won.

It was the first time for a local group’s total market valuation to surpass 700 trillion won.

The group’s combined market cap was also nearly 1.3 times of South Korea's budget for 2021, set for 556 trillion won.

A distant second among South Korean conglomerates was SK Group, which has a market cap of around 171.26 trillion won.

Since the passing of late group Chairman Lee Kun-hee on Oct. 25, the market cap surged 28 percent from 561.82 trillion won in just two months.

While blue-chip Samsung Electronics and its preferred shares’ combined market valuation surpassed 500 trillion won, other preferred stocks’ market caps also largely increased. Preferred stocks of Samsung Heavy Industries saw the largest increase of 467.8 percent, followed by Samsung SDI with 207.7 percent and Samsung Electro-Mechanics 78.4 percent.

It pushed the group’s weight on the Kospi from 34.8 percent at the end of last year to 37.1 percent.

Buoyed by major Samsung affiliates’ stocks rise, the main bourse crossed closed at 2,806.86, up 47.04 points or 1.7 percent, from the previous session’s close.

Buoyed by major Samsung affiliates’ stocks rise, the main bourse crossed closed at 2,806.86, up 47.04 points or 1.7 percent, from the previous session’s close.