Korean banks' net profit fell in the third quarter of the year from three months earlier on a fall in interest income, data showed Tuesday.
The combined net profit of financial holding companies in Korea grew from a year earlier in the first six months of the year thanks to a sharp increase in returns from their insurance business, data showed Friday.
Financial authorities must closely monitor credit card issuers still engaged in loan practices for profit-making if the authorities don’t want to see another credit card crisis devastate the market.
Emart reported a first quarter operating profit of 93.2 billion, with sales rising to 4.2 trillion won. The retailer's focus remains on price competitiveness in its offline outlets.
CJ CheilJedang posted a 77.5 percent on-year increase in operating profit of 267 billion won on the back of its popular food products.
Korean Air reported a 5 percent on-year increase in first quarter operating profit due to recovery in passenger traffic and robust cargo demand but still underperformed market expectations.
Coupang posted net loss for the first quarter of 2024 as its profits eroded, partially due to intensifying competition with Chinese competitors like AliExpress and Temu.
Korean financial holding companies' net profit exceeded 21 trillion won in 2023 aided by high interest rates.
Coupang, the U.S.-listed Korean e-commerce giant, reported its first-ever annual operating profit of $473 million in 2023, according to its earnings release published Wednesday.
Korean Air and Asiana Airlines both achieved record revenue in 2023 due to increased demand from international passengers but saw profitability decline.
Korea JoongAng Daily Sitemap
