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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.
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.
HD Hyundai reported a 40 percent year-on-year decline in its operating profit for 2023 to 2.03 trillion won ($1.5 billion), attributed to the weak performance of its oil refining sector impacted by oil prices and a decline in refining margins.
It's a marked difference from the previous year's 52.3 billion won loss. Net profits for the year surged to 80.4 billion won from a loss of 29.7 billion won one year earlier.
Korea JoongAng Daily Sitemap