Hyundai Motor posts record-breaking $11.33 billion operating profit
![Hyundai Motor and Kia's headquarters in Seocho District, southern Seoul. [NEWS1]](https://koreajoongangdaily.joins.com/data/photo/2024/01/25/bd46476e-ea24-4bff-a615-85a19f427765.jpg)
Hyundai Motor and Kia's headquarters in Seocho District, southern Seoul. [NEWS1]
Hyundai Motor posted a record-breaking operating profit of 15.13 trillion won ($11.33 billion) for 2023, up 54 percent on year.
The figure fell short of the analyst forecast of 15.45 trillion won compiled by FnGuide.
Net profit surged 53.7 percent to 12.27 trillion won, below the forecast of 13.04 trillion won.
Sales rose 14.4 percent to 162.66 trillion won, slightly above the forecast of 162.64 trillion won.
Kia posted its earnings report earlier that day, also breaking its record with a 60.5 percent on-year surge in the annual operating profit to 11.61 trillion won. Sales came in at 99.81 trillion won.
BY SHIN HA-NEE [shin.hanee@joongang.co.kr]
with the Korea JoongAng Daily
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