Samsung tops domestic sales for 22 consecutive years: Report

Seoul: Samsung Electronics has held the No. 1 spot in annual sales among South Korean companies for 22 consecutive years from 2002 to 2023, an industry analysis report here showed on Monday.

According to the report from the Korea CXO Institute, a corporate data firm, Samsung Electronics was found to have ranked first in terms of sales every year since 2002, reports Yonhap news agency.

The institute also excluded financial firms and companies that changed ownership due to management difficulties in its analysis.

The report is based on an analysis of changes in the top 50 listed companies by annual sales from 1984 to 2023.

Samsung Electronics’ sales grew exponentially during the period, from 1.36 trillion won (US$928 million) in 1984 to 170.4 trillion won in 2023.

According to the report, Samsung Electronics and six other firms have maintained a place in the top 50 every year for the entire 40-year period.

The others are Hyundai Motor Co., LG Electronics Inc., Samsung C&T Corp., LG Chem Ltd., Hyundai Engineering & Construction Co. and Korean Air Co.

Samsung C&T led the rankings 14 times between 1985 and 2001, while Hyundai Motor has consistently remained in the top three in recent years, the report showed.

Meanwhile, Samsung E&A said on Monday it has secured a 518.6 billion-won ($354.2 million) contract to build a biopharmaceutical raw material production and research facility in Songdo, west of Seoul, for Sartorius AG of Germany.

The plant will be constructed for Sartorius Korea, the South Korean unit of the German life sciences giant, within the Songdo Free Economic Zone in Incheon.

Once completed, the facility will manufacture single-use bio processing bags and pharmaceutical membrane filters, while also providing clinical contract research organisation (CRO) services.

Samsung E&A will handle the engineering, procurement and construction independently, with the project completion scheduled for 2027.

—IANS