Businesses are expected to see their net profits surge by nearly 70 percent in the third quarter despite the ongoing global recession.

According to market research firm FnGuide, the combined sales of the top 100 firms listed on the country's stock market are expected to grow 1.2 percent, while their overall net profits will jump 69.8 percent on-quarter.

Samsung Electronics is expected to lead in both sales and net profit, followed by Hyundai Motors and steelmaker POSCO.

Analysts say the latest estimate reflects the companies' efforts to cut costs in the face of the global recession as their sales figures have remained relatively unchanged.