4 major South Korean conglomerates, including Samsung, Hyundai Motor, LG, and SK Hynix, saw their combined operating profit plunge 65% last year.
4 major South Korean conglomerates, including Samsung, Hyundai Motor, LG, and SK Hynix, saw their combined operating profit plunge 65% last year, hitting 24.51 trillion won ($17.9 billion) due to sluggish sales amid economic slowdown, according to a report by the Korea CXO Institute. Samsung Group experienced the largest profit decline, with its 59 affiliates reporting a 93% drop in operating income.
April 24, 2024
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