While the number of South Korean companies with at least 1 trillion won in annual revenue has increased 2.5-fold in the 20 years since the financial crisis, the number has decreased in recent years, a report by local market research firm Korea CXO Institute showed.

Based on annual performance figures, 187 firms were part of the so-called “1 trillion won club” in 2017, down from 192 in 2012.

With the combined revenue of the nation’s top conglomerates also declining, the report said, these figures highlight the need to reconsider the economy’s growth engines.

By The Korea Herald (khnews@heraldcorp.com)