2023 South Korea corporate revenue fell 2.0% due to lower global demand, impacting manufacturers and non-manufacturers.

2023 South Korea corporate revenue fell 2.0% due to lower global demand, according to Bank of Korea data. Manufacturers' sales dropped 2.7% mainly due to weaker semiconductor demand and lower oil product prices, while non-manufacturers saw a 1.2% decline. Operating profitability worsened, with the operating profit to revenue ratio at 3.8%. Local companies' debt-to-equity ratio decreased to 102.6% from 105% the previous year.

June 12, 2024
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