Samsung BioLogics, Kakao and Hyundai Motor are competing to be the fifth-largest company in terms of market capitalization in South Korea.

According to Korea Exchange on Monday, Samsung BioLogics is currently holding fifth place on the country’s main bourse Kospi, with a market cap of 51.7 trillion won ($45.9 billion). Kakao and Hyundai Motor closely follow with 49.5 trillion won and 48.2 trillion won, respectively.

Competition for the fifth spot has recently escalated after Kakao’s market cap rapidly advanced this year, backed by increased investment from foreign investors.

Late last year, Kakao’s market cap hovered around 34.4 trillion won. In February this year, it climbed one spot with 43.2 trillion won in market cap. On April 6, the company behind South Korea’s ubiquitous messenger app KakaoTalk rose to seventh place. Kakao then passed Hyundai Motor to take sixth place.

Last week alone, foreign investors purchased stocks worth around 300 billion won after the company announced its plan for a 5-for-1 stock split.

Earlier in January, Samsung BioLogics’ market cap came in fifth place, followed immediately by Samsung SDI and Hyundai Motor.

However, Samsung SDI fell behind in the ranking amid intensifying competition from Chinese battery producers. Volkswagen Group’s announcement to introduce prismatic battery cells in the future also contributed to Samsung SDI’s retreat.

Hyundai Motor also once took fifth place in February, upon the company’s advanced car sales in the US market. Earlier in April, Hyundai Motor was battling back and forth with Samsung BioLogics after rumors regarding the South Korean automaker’s potential partnership with Google.

Meanwhile, the market value of the top cap Samsung Electronics came to 497.2 trillion won, followed by SK hynix with 100 trillion won, Naver with 62 trillion won and LG Chem at 57.8 trillion won.

By Shim Woo-hyun (ws@heraldcorp.com)