Korean Firms Became Less Profitable in 2012

  • Arirang News

    November 29, 2013 11:16

     The margins of Korean companies are dwindling despite strong trade figures. Statistics Korea said profitability worsened last year to an average of 4 cents for every dollar of sales. This is the lowest figure since the 2008 global financial crisis.

    The construction sector was hit the hardest last year with combined losses of US$1.9 billion.

    The state-run agency attributed the drop to a real-estate slump but added that the figures are provisional and final numbers will be released by the end of the year.

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