Data from the Bank of Korea showed that foreign investors sold a net $1.78 billion worth of local stocks and bonds, continuing the outflow trend for a fifth straight month.
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.
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.
Economic growth is in jeopardy with a lack of circulation as Koreans in their 60s keep their wealth locked up in nonfinancial assets.
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.
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.
Korea JoongAng Daily Sitemap
