South Korea’s top 100 listed firms in terms of market capitalization saw their net and operating profits surge nearly 50 percent in 2017, on the back of a global tech super cycle that buoyed local manufacturers, data showed Wednesday.
The firms on either the top-tier Kospi and second-tier Kosdaq recorded a total of 121.7 trillion won ($112.4 billion) in net profit and 155.6 trillion won in operating profit, up 48.5 percent and up 45.8 percent on-year, according to data compiled by local market tracker CEOScore.
Their combined net revenue also surged 11.7 percent and came to 1,525.2 trillion won in 2017, data also showed.
CEOScore collected data for the 81 of the top 100 firms, as of Friday, that have 2017 earnings data available.
(Yonhap)
Among the 81 firms were market bellwethers that led the trend on the back of earnings parade last year. Smartphone and chip manufacturer Samsung Electronics logged 53.6 trillion won in operating profit, up 83.3 percent on-year, while that of semiconductor firm SK hynix came to 13.7 trillion won, up 318.7 percent on-year.
Of the 81 firms, only two firms -- shipbuilder Samsung Heavy Industries and joint disease treatment developer TissueGene -- reported operating losses, worth 524.2 billion won and 15.4 billion won, respectively.
By sector, the biotechnology sector took the biggest leap forward, seeing a 154.3 percent surge in total operating profits, followed by the brokerage sector and information technology sector, which saw 124.1 percent and 112.4 percent increases. Automakers and public utilities, in contrast, suffered declines in operating profit of 29.4 percent and 14.2 percent.
By Son Ji-hyoung
(
consnow@heraldcorp.com)
