Korean Firms Trail World's Biggest Businesses
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Chinese companies topped the Forbes' list of the World's Largest Companies in 2015.
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Industrial and Commercial Bank of China ranked first, followed by China Construction Bank, Agricultural Bank of China, and Bank of China.
This is the first time Chinese firms grabbed all four top spots. Forbes selects the companies based on sales, assets, profits and market value.
Fifth was Berkshire Hathaway owned by Warren Buffett, followed by JPMorgan Chase, Exxon Mobil, PetroChina, General Electric and Wells Fargo. Banks and petro firms dominated the top 10.
From Korea, Samsung Electronics ranked 18th, up four notches from last year, while Hyundai Motor ranked 117th, KEPCO 171st, Shinhan Financial Group 279th, Hyundai Mobis 298th and Samsung Life 300th.
American businesses accounted for 579 of the top 2,000 businesses, followed by Chinese (232) and Japanese companies (218).
Korean firms ranked fifth after the U.K. with 66 companies on the list. Forbes said 200 companies entered the list for the first time this year, including Korean cosmetics company AmorePacific at 1,586th.