UPDATE : 2019.12.12 THU 11:15
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Samsung Electronics ranks 12th in the Fortune’s 500 world business for this yearHighest ranking achieved by Korea’s top business

Samsung Electronics placed 12th on the list of the top 500 global companies, U.S. business magazine, Fortune, disclosed on July 13, which is the highest standing ever achieved by the tech giant of South Korea

According to Yonhap News Agency of Korea today, Samsung Eelctronics first entered Fortune's top 500 list by ranking 221st place in 1995. Since then, Samsung has gradually expanded its presence around the globe, reaching 15 place in 2017.

Samsung was the only South Korean company that made the top 20, the Fortune magazine showed. The company's archrival, Apple Inc., placed 11th.

Fortune said that while Samsung is facing challenges in the smartphone business, especially from Chinese rivals, the company still boasts sound performances in the chip business.

South Korea's No. 2 chipmaker, SK hynix Inc., and retail giant CJ Corp. entered the top 500 list for the first time at 442nd and 493rd place, respectively.

Kim Jung-mi  edt@koreapost.com

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