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Listed Firms of S. Korea's 10 Conglomerates' Profit Plunge 43% in Q1

Write: 2019-05-19 14:10:31Update: 2019-05-19 14:16:56

Listed Firms of S. Korea's 10 Conglomerates' Profit Plunge 43% in Q1

Photo : YONHAP News

The listed affiliates of the country's top ten conglomerates saw their combined operating profits plunge 43 percent in the first quarter from a year earlier.

According to data compiled by industry tracker Chaebul.com on Sunday, the 95 listed affiliates of the top ten business groups posted a combined operating profit of 14-point-nine trillion won in the January-March period.

It marks a decrease of 42-point-eight percent from 26 trillion won posted in the same period a year earlier.

The listed affiliates of the nation's largest conglomerate Samsung saw their first-quarter operating profit plummet nearly 60 percent on average to five-point-one trillion won, mostly due to a sharp decrease in earnings by Samsung Electronics.

SK Group's listed firms also suffered a 41-point-four percent drop in their combined operating profit over the period, which was also led by its major chipmaker SK Hynix.

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