South Korean Big Companies' Operating Profit Rises 57.1 Percent in Q1
The combined operating profit of 334 companies out of the country's top 500 corporations in terms of sales surged 57.1 percent in the January-March quarter compared to the same quarter of last year, according to local corporate data tracker CEO Score.
The combined revenue added 0.5 percent in the cited quarter on the back of strong earnings in chipmakers.
The IT industry, including semiconductor manufacturers, posted an operating profit of 11.43 trillion won (8.4 billion U.S. dollars) in the first quarter, turning around from an operating loss of 866.6 billion won (639.1 million dollars) a year earlier.
The public enterprises also recorded an operating profit in the first quarter after logging a loss in the same quarter of last year.
Operating profit for the automotive and auto parts sector expanded 12.9 percent in the cited quarter, but those for the petrochemical and the steel industries plunged 46.7 percent and 32.6 percent, respectively.
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