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

the operating profits of South Korea’s
top 10 business groups more than half in the first six months of 2019 the slump
is mostly being attributed to the weak semiconductor market globally and the
trade tensions between the US and China kim hyusun
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 90 listed companies
affiliated with the nation’s 10 largest business groups hovered around seventeen
point five billion u.s. dollars in the first six months of the year this is a
staggering fifty three point five percent decrease 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 had the biggest plunge in
operating earnings down seventy two point eight percent Samsung Group and
hunging groups operating earnings dropped sixty five 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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