South Korea's non-financial for-profit corporations' revenue declines 1.5% due to reduced global demand.

In 2023, South Korea's non-financial for-profit corporations saw a 1.5% decline in revenue due to reduced global demand for local products, per Bank of Korea data. This follows a substantial 15.1% growth the previous year. Manufacturers' sales fell by 2.3%, impacted by weaker semiconductor demand, while non-manufacturers' revenue dropped 0.9%. Corporate profitability decreased, with the operating profit-to-revenue ratio declining from 4.5% to 3.5%.

October 23, 2024
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