The combined operating profit of Korea's top 500 companies surged 66 percent from a year earlier in 2024, driven largely by a rebound in the global semiconductor market, a report showed Wednesday.
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, 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.
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.
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).
Sales decreased 6.3 percent to 8 trillion won, according to the company on Tuesday.
Korea JoongAng Daily Sitemap
