South Korea's Top Firms Post Gains in 2004
South Korea's 10 largest firms by market value apparently have more than doubled their net profits in 2004 on an annual basis, the country's main bourse said Wednesday.
Samsung Electronics Co, Korea Electric Power Corp, POSCO Co, and seven other domestic companies are estimated to have racked up a combined 26.6 trillion won (US$25.67) in net income, up 160% from a year earlier, according to the Korea Exchange.
Market leader Samsung Electronics, the world's second-largest manufacturer of computer chips, recorded 10.8 trillion won of net profits last year, up from 5.96 trillion won a year earlier.
Korea Electric Power Corp, the No 2 domestic firm by market capitalization, racked up an estimated 2.7 trillion won of net income. It has yet to release its fourth-quarter earnings data.
POSCO, South Korea's biggest steelmakers and third-largest firm by market value, locked in 3.8 trillion won, while Kookmin Bank, the country's biggest lender, racked up 555 billion won of net profits, a turnaround from a 930-billion-won net loss in 2003.
Smaller issues - SK Telecom Co, LG Philips LCD Co, Hyundai Motor Co, KT Corp, LG Electronics Inc and Shinhan Financial Group - trailed with healthy net profits, according to the exchange.
SK Telecom, the top local mobile carrier, and LG Philips LCD had 1.5 trillion won and 1.7 trillion won, respectively.
Hyundai Motor, the largest domestic auto maker, KT, and LG Electronics respectively posted net profits of 1.8 trillion won, 1.3 trillion won and 1.53 trillion won, while Shinhan Financial Group, the country's 10th-biggest firm by market value, recorded 1.1 trillion won in net profits.
Samsung Electronics Co, Korea Electric Power Corp, POSCO Co, and seven other domestic companies are estimated to have racked up a combined 26.6 trillion won (US$25.67) in net income, up 160% from a year earlier, according to the Korea Exchange.
Market leader Samsung Electronics, the world's second-largest manufacturer of computer chips, recorded 10.8 trillion won of net profits last year, up from 5.96 trillion won a year earlier.
Korea Electric Power Corp, the No 2 domestic firm by market capitalization, racked up an estimated 2.7 trillion won of net income. It has yet to release its fourth-quarter earnings data.
POSCO, South Korea's biggest steelmakers and third-largest firm by market value, locked in 3.8 trillion won, while Kookmin Bank, the country's biggest lender, racked up 555 billion won of net profits, a turnaround from a 930-billion-won net loss in 2003.
Smaller issues - SK Telecom Co, LG Philips LCD Co, Hyundai Motor Co, KT Corp, LG Electronics Inc and Shinhan Financial Group - trailed with healthy net profits, according to the exchange.
SK Telecom, the top local mobile carrier, and LG Philips LCD had 1.5 trillion won and 1.7 trillion won, respectively.
Hyundai Motor, the largest domestic auto maker, KT, and LG Electronics respectively posted net profits of 1.8 trillion won, 1.3 trillion won and 1.53 trillion won, while Shinhan Financial Group, the country's 10th-biggest firm by market value, recorded 1.1 trillion won in net profits.
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