The lobby of Google Korea headquarters in Seoul (Yonhap)
SEOUL, April 14 (Korea Bizwire) — Google Korea saw its revenue reach more than 200 billion won (US$178.65 million) last year in the first disclosure of its financial statement in the country, a regulatory filing showed Wednesday.
Google Korea, which operates under Google International LLC, said in the filing that its sales stood at 220.14 billion won last year, up 3.66 percent from the previous year, while operating profit reached 15.59 billion won, up 52.95 percent over the same period.
The company said most of its sales came from marketing support for its affiliate Google Asia Pacific Pte Ltd. and advertising from services, such as the app market Google Play and YouTube.
Sales from advertising stood at 86.46 billion won last year, compared with 75.88 billion won the previous year.
Sales from transactions on the Play store were not included in Google Korea’s financial statement.
Google Cloud Korea, which operates the U.S. tech giant’s cloud services in South Korea, said in a separate filing that its sales reached 58.3 billion won, up 128 percent from the previous year.
(Yonhap)
