OREANDA-NEWS. July 18, 2013. POSCO was ranked 167th in the Fortune Global 500 based on revenues of 2012 announced by the U.S. economic magazine (Fortune).

Since CEO Chung Joonyang took office in 2009, POSCO ranked 161th in 2010, 146th in 2011, and 167th in 2012, ranking in the top 200 list for three consecutive years.

This has been evaluated to be as a result of synergy management activities after CEO Chung Joonyang`s inauguration into office, including proactive overseas market entrance and technology investment, as well as active cost reduction activities at the POSCO Family level.

Among companies in Korea, Samsung Electronics ranked 14th, SK Holdings 57th, and Hyundai Motor 104th. Following them, Hyundai Heavy Industries ranked 206th, LG Electronics 225th, Korea Electric Power 235th, GS Caltex 239th, Kia Motors 252nd, Korea gas 365th, S-Oil 371st, and Hyundai Mobis 426th, placing themselves in the Fortune Global 500 list.

Of the 500 companies, Royal Dutch Shell ranked 1st with revenue of 481.7 billion USD. Following in 2nd is Wal-Mart, 3rd ExxonMobil, 4th Sinopec Group, and 5th China National Petroleum. Compared to last year, China National Petroleum entered the top 5 ranking, but the other top 4 aside from Wal-Mart are all oil-related companies.

89 companies from China were included in the Fortune Global 500, an increase for 10 consecutive years. Additionally, 132 U.S. companies, 62 Japanese companies, and 29 German companies were included in the Fortune Global 500.

(Fortune) selects and announces the global top 500 companies each year based on the previous year`s revenue.