Korean cosmetics original design manufacturers (ODMs) continued to post strong results in the third quarter, driven by steady global demand for K-beauty products and a growing overseas client base.
Korea recorded its highest-ever quarterly exports in the third quarter, but the gains were concentrated among a few major conglomerates — a sign that the semiconductor boom is driving a deeper imbalance in the economy.
Korea's exports reached a record high in the third quarter — driven by robust shipments of semiconductors amid a “super cycle” in the chip industry, prompted by a boom in the AI sector — according to government data on Monday.
Woori Financial Group on Wednesday reported its third-quarter net income of 1.29 trillion won ($902.9 million), up 40.9 percent from a year earlier.
Major Korean securities firms raised their growth forecasts for next year after the nation's economy grew faster than expected in the third quarter.
Samsung's third quarter operating profit is estimated to beat expectations, forecasted to reach as high as 10.5 trillion won, surpassing the FnGuide market consensus of 9.9 trillion won.
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.
Korea JoongAng Daily Sitemap
