The buildings of South Korea’s major firms in Seoul. (Yonhap)
SEOUL, Aug. 19 (Korea Bizwire) — South Korea’s listed companies saw their earnings more than triple in the first half of 2021 from a year earlier as the global economic recovery from the pandemic steeply increased their sales, data showed Thursday.
The combined net profit of 587 out of 664 firms, which are listed on the main KOSPI bourse and close their books on Dec. 31, totaled 85.13 trillion won (US$72.34 billion) on a consolidated basis in the January-June period, up 245.5 percent from 26.4 trillion won a year earlier, according to the data compiled by the bourse operator, Korea Exchange (KRX).
Their operating income jumped 118.86 percent to 91 trillion won, and sales went up 17.46 percent to 1,080.6 trillion won during the cited period, data showed.
Of the companies, 489 entities, or 83.3 percent, were in the black, compared with 419 entities a year ago. The number of entities that ran a deficit in the cited period decreased 16.7 percent on-year to 98 from 168.
The listed firms’ earnings slowed in the second quarter.
The listed firms’ net profit decreased 23.4 percent in the second quarter of the year from three months earlier to 36.9 trillion won, while operating profit increased 8.51 percent to 47.4 trillion won.
Total sales moved up 5.09 percent on-quarter to 553.7 trillion won in the April-June period.
As for 1,011 out of 1,127 companies listed on the country’s secondary KOSDAQ market, combined net profit increased 157.73 percent to 6.87 trillion won, and operating profit also picked up 54.21 percent to 7.64 trillion won during the first six months of this year. Sales grew 17.57 percent to 108 trillion won.
Of the total, 647 firms, or 64 percent, enjoyed net profits, while 36 percent logged losses, the data showed.
(Yonhap)
