A majority of South Korean firms saw their earnings drop or suffered losses in the fourth quarter of 2012, hit by global jitters stemming from the world’s major economies, data showed on Thursday.
According to data compiled by a local financial information provider, FnGuide, 140, or 57 percent of the 245 listed firms that disclosed their fourth-quarter earnings, reported red figures or an on-quarter decline in their operating profit.
Hyundai Merchant Marine Co., the country‘s second-largest shipper, reported a loss of 171.6 billion won ($153.7 million) during the quarter, and No. 2 chipmaker Hynix Semiconductor Inc. logged a 167.5 billion-won operating loss.
Major builder GS Construction & Engineering Co. also suffered a 98.6 percent on-quarter drop in its fourth-quarter operating income.
Their lackluster performances came in the face of slowing demand at home and abroad, sapped by the debt-laden eurozone, a faltering U.S. economy and a slowdown in China.
