Kolon Industries Reports 115.1 Billion Won Operating Profit Last Year, Down 27.5% Year-on-Year

Sales Rise 0.8% to 4.88 Trillion Won

Kolon Industries announced in a regulatory filing on January 30 that its consolidated operating profit for the previous year was tentatively estimated at 115.1 billion won, a 27.5% decrease compared to the same period a year earlier. During the same period, sales rose by 0.8% to 4.8796 trillion won.

Exterior view of Kolon Industries headquarters. Kolon Industries

Kolon Industries explained that while sales saw a slight increase due to higher sales of automotive parts materials and chemical products, operating profit declined as a result of intensified global competition for key products such as aramid.

A Kolon Industries representative stated, "Since last year, our main businesses, including aramid, have been exploring new markets. We expect performance improvement through efficient management in the fashion division and expansion into overseas markets," and added, "By enhancing efficiency throughout the entire process from raw material procurement to shipment, we will further strengthen our competitiveness in the global market."

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