From Yonhap:
Consolidated earnings for South Korean listed companies fell nearly 40 percent on-year in the third quarter of the year amid unstable economic conditions and slowing exports, a report showed Wednesday.
The combined net profit of 147 big firms with assets over 2 trillion won (US$1.8 billion), such as Samsung Electronics Co. and Hyundai Motor Co., totaled 14.2 trillion won in the July-September period, compared with 22.6 trillion won a year earlier, according to the report by the Korea Exchange and the Korea Listed Companies Association.
The report said the weaker bottom line came as companies' profitability slipped amid global uncertainties stemming from the eurozone debt crisis and a slowing U.S. economic growth. Declining demand for South Korean information technology (IT) products as well as a rise in commodity and oil prices also ate into their earnings, it added.
Tech heavyweight Samsung Electronics topped the list of profitable firms, followed by industry leaders SK Innovation Co., Hyundai Motor, LG Chem Co. and Hyundai Heavy Industries Co.
The average debt ratio of the tallied big firms came to 133.84 percent as of end-September, growing from 131.48 percent from the end of last year, according to the report.
http://english.yonhapnews.co.kr/business/2011/11/30/24/0501000000AEN20111130004851320F.HTML
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