Scandal-hit Miwon Chemicals reports 13% hike in Q3 operating profit

[THE INVESTOR] Miwon Chemicals reported on Oct. 14 that its operating profit in the third quarter on consolidated basis rose 13.4 percent to 4.56 billion won (US$4.03 million) from the same period last year.

Sales dropped 6.8 percent to 34.49 billion won on-year.

The chemical company has been at the center of a recent controversy for providing a toxic substance used in toothpastes and personal care products that was also used in deadly humidifier disinfectants. 

It reportedly distributed over 3,000 tons of Chloromethyl-methylisothiazolone, a synthetic biocide and preservative, although it was designated a toxic substance by the Environment Ministry in 2012 after the authorities confirmed a link between humidifier disinfectants and lung-related diseases in 2011.

By Hwang You-mee (glamazon@heraldcorp.com)