The purpose of this study was to examine what constitutes an excellent company, the conditions for becoming such an excellent company, and the characteristics of excellent companies selected primarily based on stock price criteria. Specifically, this study reviewed the literature on excellent companies that has been studied both domestically and internationally to examine how excellent companies have been defined in different business environments and what conditions are required to achieve such excellence. It then examined what conditions characterize excellent companies from a management perspective, and finally investigated the characteristics of Korean-type excellent companies as revealed through interviews with managers. For these research purposes, this study derived objective analysis and conclusions through as many literature sources as possible and also conducted interviews with managers of companies judged to be excellent based on stock price criteria to produce empirical research findings. Of the total 25 companies selected as excellent companies for the survey, only 10 agreed to be interviewed. While it may not be entirely valid to draw conclusions about the characteristics of Korean excellent companies based on only about 10 companies, conclusions are presented in the spirit of summarizing the common voices of the interview respondents. First, Korean excellent companies place great emphasis on management philosophy. Management philosophy is considered above any rational decision-making. Second, Korean excellent companies have particular strengths in product quality excellence. The managers interviewed unanimously pointed out that quality is the face and image of the company. Third, Korean excellent companies place great importance on innovation. The business leaders interviewed agreed that innovation is important for corporate development and is an unavoidable path to winning in business. Fourth, Korean excellent companies value consumers. Since no company can exist without consumers, this may seem like nothing new. However, the interviews reaffirmed how important consumers are to these business leaders. Fifth, Korean excellent companies emphasize internationalization. The internationalization that the managers of the interviewed excellent companies envision means that management decisions should always be made with an international perspective. Sixth, Korean excellent companies value employee welfare and stable labor-management relations. The interviewed managers held the view that improving employee welfare and maintaining stable labor-management relations are fundamental to management. The above summarizes six characteristics of excellent companies that emerged from interviews with managers of the selected excellent companies.