S. Korea’s top 10 business gropus’ operating earnings tumbled 54% in first half of 2019

S. Korea’s top 10 business gropus’ operating earnings tumbled 54% in first half of 2019


the operating profits of South Korea’s
top ten business groups more than halved in the first six months of this year now
the slump is mostly being attributed to the weak semiconductor market not only
here in Korea but worldwide as well as trade tensions between the United States
and China Kim her son with the details major South Korean conglomerates
suffered a major decline in their operating earnings in the first half of
2019 according to market researcher in phobics
the combined operating profits of ninety listed companies affiliated with
nation’s ten largest business groups hovered around seventeen point five
billion u.s. dollars in the first six months of the year this is a staggering
53 point five percent increase from a year earlier the operating earnings for
the second quarter in particular plunged a whopping 63 percent on-year the market
researcher points to weak global demand for semiconductors and the prolonged
trade war between the US and China has the main reasons for the drop the
conditions facing semiconductor industry would not be worse but won’t get better
soon either as the us-china trade tensions escalate conditions will not
improve in the short term are the biggest plunge and operating earnings
down seventy two point eight percent Samsung Group and hunging groups
operating earnings drop 65 point nine and 63 percent respectively however it
wasn’t all doom and gloom Hyundai Motor Group operating profits from thirty
eight point six percent thanks to strong demand for new models and the weak local
currency as the above figures do not reflect the uncertainties caused by
Japan’s trade curves and the pro-democracy protests in Hong Kong
South Korean conglomerates are expected to face even more difficulties in the
latter half of the year Kim you-sun Arirang news

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About the Author: Oren Garnes

1 Comment

  1. >>>The market researcher points to weak global demand for semiconductors
    Who has said that Japan's export curb would affect the global supply chains? Demands are already declining.

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