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The Korea Herald
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THE INVESTOR
March 29, 2024

Economy

Top 4 accounting firms dominate market

  • PUBLISHED :April 19, 2017 - 11:49
  • UPDATED :April 19, 2017 - 12:59
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[THE INVESTOR] The top four accounting firms have half of the listed companies as clients, a state portal said on April 19.

According to securities information portal SEIBro, operated by the Korea Securities Depository, 108 accounting companies are handling 1,898 companies, averaging 17.6 corporate clients per firm. The industry’s top four, however, were dominant with 50.1 percent of the clients.

Samil PricewaterhouseCoopers was the strongest of them, having 295 corporate customers (15.5 percent). Samjong KPMG was next with 234 (12.5 percent), followed by Deloitte Anjin with 221 (11.6 percent). Ernst & Young Hanyoung had 200 clients (10.5 percent).

Samil’s clients include South Korea’s richest company, Samsung Electronics, and the largest portal site, Naver. The second-largest market cap firm, SK hynix, Hyundai Mobis, and Korea Electric Power Corp. are overseen by Samjong.

Anjin‘s customers include Hyundai Motor, SK Innovation and Kia Motors. Hanyoung handles Lotte Chemical and Hana Financial Group, among others.

There were 164 accounting firms in the country as of the end of January this year. Given the latest breakdown of customers, this suggests that about 34 percent of them have no corporate clients.

By Alex Lee and newswires (alexlee@heraldcorp.com)

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