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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.
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.
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.
Shinhan said a pre-emptive accumulation of provisions, financial programs for self-employed workers and the reduced valuation of alternative assets contributed to the drop.
The battery maker reported a fourth-quarter net income of 493.3 billion won, down 21.6 percent from the same period a year earlier.
Woori Bank has pledged to surpass its current fourth position and achieve the highest net profit among all commercial banks this year.
Korean auto parts maker Hyundai Mobis reported a fourth-quarter net profit of 651.4 billion won ($486.8 million), up 2.3 percent from a year earlier but behind market expectations.
LG Energy Solution, Korea's top battery manufacturer, announced a 31 percent decline in net profit for the fourth quarter of 2023 on-year due to a deceleration in the demand for electric vehicles (EVs).
Hyundai Engineering & Construction (Hyundai E&C) said Tuesday its net profit jumped 38.9 percent on-year in 2023, bolstered by increased construction project orders.
Korea JoongAng Daily Sitemap