Hyundai Motor Co. overtakes Toyota as top Asian automaker in TIME's Best Companies list, showcasing rising global competitiveness.
TIME and industry sources reported on Oct. 20 that Hyundai ranked 33rd with 91.36 points, 15 spots ahead of Toyota at 48th with 90.42. Hyundai jumped 159 places from 192nd in 2024, becoming the only South Korean company in the top 100.
Since 2023, TIME has worked with German data firm Statista to rank the world's 1,000 best companies annually. Scores combine three equally weighted factors: employee satisfaction from surveys, three-year revenue growth, and ESG transparency, including carbon reduction and board gender diversity, on a 100-point scale.
Hyundai's rapid rise reflects strong employee satisfaction, steady revenue growth, and active ESG initiatives. Revenue climbed about 23 percent, from 142 trillion won in 2022 to 175 trillion won in 2024, while operating profit increased roughly 45 percent, from 9.8 trillion won to 14.2 trillion won. The company has signed renewable energy purchase agreements at key sites in South Korea, the United States, and India, advancing its RE100 goals toward carbon neutrality by 2045.
In this year's ranking, Nvidia took first place, followed by Microsoft in second. Among the 1,000 companies, 18 South Korean firms made the list, including Kakao (101st), SK Group (121st), and Kia (166th), alongside Hyundai.
Jae-Hyeng Kim [email protected]