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Nearly one out of three South Korean listed construction companies posted net losses in the first half of this year, data showed Monday, due to the protracted property slump from home and abroad.
According to the data by market researcher FnGuide, 18 out of South Korea’s 58 listed builders posted a net loss in the January-June period, with 13 of them moving inversely to shortfalls from six months earlier.
GS Engineering & Construction Co. saw its net loss reach 554.6 billion won ($499.6 million) in the first half, due to lower margins in overseas deals, marking the largest shortfall among local builders.
Dongbu Corp. also posted a shortfall of 124.5 billion won in the first half, trailed by Samsung Engineering Co. with 57.2 billion won and Sambu Construction Co. with 33.3 billion won.
In contrast, Daelim Industrial Co. posted a net profit of 210 billion won over the cited period, trailed by Hyundai Engineering & Construction Co. with 209.2 billion won and Samsung C&T Corp. with 95.9 billion won. (Yonhap News)
According to the data by market researcher FnGuide, 18 out of South Korea’s 58 listed builders posted a net loss in the January-June period, with 13 of them moving inversely to shortfalls from six months earlier.
GS Engineering & Construction Co. saw its net loss reach 554.6 billion won ($499.6 million) in the first half, due to lower margins in overseas deals, marking the largest shortfall among local builders.
Dongbu Corp. also posted a shortfall of 124.5 billion won in the first half, trailed by Samsung Engineering Co. with 57.2 billion won and Sambu Construction Co. with 33.3 billion won.
In contrast, Daelim Industrial Co. posted a net profit of 210 billion won over the cited period, trailed by Hyundai Engineering & Construction Co. with 209.2 billion won and Samsung C&T Corp. with 95.9 billion won. (Yonhap News)
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Articles by Korea Herald
