Last year, the economic contribution of Hyundai Motor Group was estimated to reach 360 trillion won. This is the largest among domestic corporations.
On the 26th, CEO Score of the Corporate Data Research Institute analyzed the top 100 corporations by revenue last year, revealing that Hyundai Motor Group's economic contribution totaled 359.4384 trillion won, the highest figure. This represents a 6.1% increase from the previous year. Economic contributions include employee salaries, payments to partners, corporate taxes, dividends, donations, and other economic values generated through corporate activities.
Examining the economic contribution of Hyundai Motor Group last year in detail, it consisted of payments to partners amounting to 306.6295 trillion won, employee salaries totaling 34.0595 trillion won, taxes amounting to 9.2613 trillion won, dividends totaling 7.5808 trillion won, interest at 1.5994 trillion won, and donations of 307.8 billion won.
By subsidiaries of Hyundai Motor Group, Hyundai Motor topped the list at 115.2187 trillion won, followed by Kia at 86.5890 trillion won and Hyundai Mobis at 52.1965 trillion won.
The automobile industry is considered a cornerstone of the Korean economy due to its large production inducement through exports and significant job creation effects. Recently, it faces a crisis due to intensified global trade wars, China's growth, a slowdown in electric vehicle demand, and sluggish domestic markets.
Kim Jun-ki, executive director of the Korea Automobile & Mobility Association (KAMA), noted on the 24th at the Automobile Mobility Industry Forum the following policy tasks: expanding tax incentives such as creating new tax systems to promote domestic production and extending tax reductions for old vehicles; increasing subsidies for electric vehicles and fully allocating the national budget for hydrogen trucks to promote eco-friendly vehicle distribution; and supporting the transition of the parts industry to future vehicles.