June 26 (UPI) -- SK Group has emerged as the most profitable conglomerate in South Korea thanks to the stellar performance of its key affiliate SK hynix, the world's No. 2 memory chipmaker.
According to Seoul-based business tracker CXO Institute on Wednesday, SK Group's subsidiaries recorded $20 billion in operating profit last year, surpassing Samsung Group's $19.9 billion.
This means that Samsung Group, a perennial leader in profitability, has now failed to claim the top spot for two consecutive years. In 2023, Hyundai Motor Group led the rankings for operating income.
"Throughout last year, SK hynix single-handedly carried SK Group. And the trend is expected to continue this year, which means SK Group may become the most profitable company for two straight years," CXO Institute chief Oh Il-sun told UPI.
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