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The Korea Herald
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THE INVESTOR
March 30, 2024

Industrials

KOSPI-listed firms’ net profit hits record high in 2017

  • PUBLISHED :April 03, 2018 - 13:42
  • UPDATED :April 03, 2018 - 13:42
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[THE INVESTOR] Korean firms listed on the country’s main KOSPI market reaped record net profits in 2017 thanks to export growth and solid chip sales, the bourse operator said on April 3.

The combined annual sales of 533 KOSPI-listed companies, excluding financial firms, came to 1,823.1 trillion won (US$1,722.80 billion), up 9.96 percent from the previous year, according to the Korea Exchange (KRX).

Their operating profits stood at 157.7 trillion won, marking a 28.17 percent increase, and their net profit also surged 40.12 percent to 114.6 billion won, it added.

The upturn is mainly attributable to the overall growth in exports and the boom in the semiconductor market on the back of the brisk global economy, according to experts.

But the stellar performance is led by a handful of large-sized companies. The 10 largest companies, including top cap Samsung Electronics, accounted for 62.43 percent of the total operating profits.

Samsung Electronics posted 1,583.5 trillion won in sales in 2017, up a solid 8.76 percent from a year earlier, and its operating profit jumped 10.94 percent on-year to 104.1 trillion won.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)

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