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SK overtakes Hyundai to become South Korea's No. 2 conglomerate

Thriving chip business pushes automaker off position it held for 16 years

SK surpassed Hyundai Motor for the first time, accumulating total assets of 292 trillion won ($230 billion) -- a 22% increase from the previous year.   © Reuters

SEOUL -- SK became the second-largest South Korean conglomerate in 2021, according to the Korea Fair Trade Commission, displacing Hyundai Motor from a position it had commanded for 16 years.

SK jumped to second place, behind Samsung, with a 22% year-on-year increase in total assets to 292 trillion won ($232.7 billion), as its businesses in semiconductors, batteries, and pharmaceuticals grew. It was also helped by the listing of two subsidiaries.

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