South Korea's top 500 firms' Q2 operating income increased 107.1% due to strong semiconductor sector performances, led by Samsung Electronics and SK hynix.

South Korea's top 500 firms by sales experienced a 107.1% increase in Q2 operating income, driven by strong semiconductor sector performances. The combined net profits reached 59.4 trillion won ($43.6bn), with Samsung Electronics and SK hynix leading the surge due to rising demand for AI semiconductors like high-bandwidth memory (HBM) from tech giants like Nvidia Corp. Samsung's operating profit rose from 668.5bn won a year earlier to 10.4 trillion won, while SK hynix's increased from a loss of 2.9 trillion won to 5.5 trillion won. The companies' total sales increased by 7% on-year to 779.5 trillion won.

August 15, 2024
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