Kiwoom Securities sees 89% profit surge in 2024
Published: 05 Feb. 2025, 09:51
![Kiwoom Securities CEO Eom Ju-sung at its headquarters in Seoul. [JOONGANGILBO]](https://koreajoongangdaily.joins.com/data/photo/2025/02/05/6dce12a1-07bc-4c06-8705-e52a35e0b968.jpg)
Kiwoom Securities CEO Eom Ju-sung at its headquarters in Seoul. [JOONGANGILBO]
Kiwoom Securities on Wednesday reported its 2024 net profit of 834.9 billion won ($574.8 million), up 89.4 percent from a year earlier.
The company said in a regulatory filing that it posted 1.09 trillion won in operating profit for the year, compared with 564.7 billion from the previous year. Annual revenue rose 18.2 percent to 11.28 trillion won.
The company also reported its fourth-quarter net profit of 146.3 billion won ($100.7 million), swinging from a loss of 189.2 billion won a year earlier.
Operating income for the October-December period was 180.2 billion, compared with a loss of 277 billion won a year ago, the company said in a regulatory filing. Sales rose 69.7 percent to 3.64 trillion won.
The earnings failed to meet market expectations. The average estimate of net profit by analysts stood at 186.4 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
Yonhap
with the Korea JoongAng Daily
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