Profits of major South Korean companies exceed 156 trillion won in the first quarter
SEOUL, May 17 (WAM) – Industrial data released on Sunday showed that operating profits at major South Korean companies exceeded 156 trillion won (104 billion US dollars) in the first quarter of this year, with the country’s two leading chip manufacturers achieving more than 60% of these profits.
The combined operating profits of 328 companies among the 500 largest companies in this country in terms of sales amounted to 156.35 trillion won in the period from January to March, an increase of 158.6% from the previous year, according to data compiled by the company “CEO Score”, which specializes in tracking the performance of companies.
Sales during the same period rose by 29.4% year on year to reach 1,038 trillion won, an increase of 235.3 trillion won over the previous year.
The total operating profit of the world’s two largest chip manufacturers, Samsung Electronics and SK Hynix, reached 94.8 trillion won.
According to the company, Samsung Electronics recorded the largest operating profit of 57.2 trillion won, a huge increase of 756.1% compared to the previous year.
This figure also exceeded the company’s total annual operating profit of 43.6 trillion won recorded last year.
SK Hynix announced first-quarter operating profits of 37.6 trillion won, an increase of 405.5% compared to the same period last year.
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