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Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] South Korea’s top 500 companies recorded a 5.9% increase in combined operating profit in the first half of 2024, but the gains were largely driven by SK Hynix, whose record-breaking semiconductor earnings masked broader weakness across industries.
According to corporate data research firm CEO Score on August 17, an analysis of 342 companies that had submitted semi-annual reports as of August 14 showed combined operating profits of ₩118.5 trillion, up ₩6.57 trillion from a year earlier.
However, SK Hynix alone posted ₩16.65 trillion in operating profit—more than any other company—thanks to booming demand for AI semiconductors. Excluding SK Hynix, the aggregate operating profit of the remaining 499 companies fell 1.7% year-on-year. Even Samsung Electronics, the second-largest contributor, saw its operating profit drop 33.4% to ₩11.36 trillion.
Industry downturns and external pressures further weighed on results. Prolonged domestic demand weakness and tariff risks under the Trump administration’s trade policies hit corporate earnings hard. In particular, the secondary battery and petrochemical sectors suffered significant losses: Samsung SDI posted an ₩831.9 billion operating loss, SK Energy lost ₩591.6 billion, and Lotte Chemical recorded a ₩377.1 billion deficit in the first half.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
