Korea's Corporate Growth Slower Than U.S. and Japan's
19 November, 2019
Korea's corporate growth rate is slower than the U.S. and Japan's, analysis shows.
While Korean IT, healthcare and other new industries are growing relatively fast, they are smaller than their U.S. and Japanese rivals and need government support like deregulation to expand.
The Korea Economic Research Institute said on Monday that analysis of Standard & Poor's database shows the asset growth of listed Korean companies in 2018 at 1.72 percent, around average for the OECD and far below the U.S. (5.92 percent) and Japan (10.76 percent).
Korea ranked 15th while Japan ranked first and the U.S. sixth.
Korean businesses also lagged behind their American and Japanese rivals in terms of the size of newly emerging industries like healthcare, IT and communication services. Japan's No. 1 healthcare company is 9.2 times bigger than its Korean rival, while the biggest American healthcare company is a whopping 57 times bigger.
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