The Korea Herald


Kospi firms’ operating profits jump on Samsung Electronics

By Choi Si-young

Published : Aug. 19, 2022 - 17:16

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Companies on South Korea’s benchmark Kospi overall saw their combined operating profit in the first six months of this year rise 7 percent from a year earlier, thanks to Samsung Electronics, the biggest company on the main board by revenue.

According to Korea Exchange data Friday, 696 firms on the Kospi reported 746 trillion won ($562.2 billion) in revenue between January and June, up 19 percent from the previous year. Operating profits came to 54 trillion won, a 7 percent jump.

But their combined figure would record a drop of 8 percent without Samsung Electronics, which accounted for 36 percent of the operating profit made by the 696 firms. Total revenue was not as heavily affected, still soaring 17 percent even without the world’s largest chipmaker, as opposed to 19 percent with it.

By sector, 17 industries -- including transportation, transportation equipment, warehouses and clothing and textiles -- reported gains in their operating profits, while construction and energy industries like electricity and gas recorded losses. 

Higher energy prices prompted by Russia’s invasion of Ukraine have taken a toll on local energy firms.

Meanwhile, companies listed on the tech-savvy Kosdaq posted annual increases of 22 percent and 16 percent in their revenue and operating profits, respectively, in the same period.