Kakao's third-quarter net profit fell 63.9 percent on year. The company attributed the decline to the additional costs of investments in infrastructure and restructuring of subsidiaries.
Third-quarter net profit came to 94.5 billion won ($72.7 million), up 21.2 percent from a year earlier, Kakao Bank said in a regulatory filing on Wednesday.
Samsung Heavy Industries reported an operating profit of 75.8 billion won in Q3, thanks to increased sales of LNG carriers, surpassing market expectations.
Kia, Korea's second-largest automaker, said Friday that its third-quarter net income surged more than 380 percent on-year, due to robust sales worldwide.
Shinhan Financial Group's net profit in Q3 declined by 26 percent to $901.7 million. Hana Financial Group's net profit dropped 15.43 percent.
Korea’s economy expanded 0.6 percent in the July-September period on quarter due to a recovery in consumer spending, according to the advance estimate released by the Bank of Korea (BOK) on Thursday.
Woori Financial Group reported a 1.6 percent decline in Q3 net profit, attributed to a drop in sales, but its earnings exceeded market expectations.
Korea’s economy grew 0.6 percent in the July-September period from a quarter earlier as consumer spending rebounded centered on dining and accommodations, according to the Bank of Korea’s preliminary data on Thursday.
Korea's economy grew 0.3 percent in the third quarter of this year despite rising interest rates and weak exports, unchanged from an earlier estimate, central bank data showed Thursday.
Major Korean companies' inventories spiked nearly 36 percent in the first nine months of this year amid a global economic slump, a corporate tracker said Tuesday.
Korea JoongAng Daily Sitemap
