LG Sangsa, 2Q Operating Profit 30.2 Billion KRW... "Decline in Trading Volume and Coal Market Conditions"

[Asia Economy Reporter Suyeon Woo] LG Corporation announced on the 22nd that its operating profit for the second quarter of this year sharply declined by about 40% year-on-year to 30.2 billion KRW due to a decrease in trading volume and a downturn in the coal market.

On this day, LG Corporation disclosed that its consolidated financial statements for the second quarter of this year recorded sales of 2.3073 trillion KRW and operating profit of 30.2 billion KRW. Compared to the previous year, sales decreased by 11.8% and operating profit by 40.3%.

An LG Corporation official emphasized, "We will continue to strengthen the competitiveness of existing businesses such as the palm business, while promoting asset efficiency and soundness enhancement, and actively pursue entry into new businesses to secure new growth engines."

While continuously expanding new businesses, the company plans to actively attract global customers in its existing logistics business and continuously secure profitability through operational efficiency improvements in the W&D (warehousing and delivery) business.

Recently, LG Corporation has been steadily increasing the role and proportion of its core functions of distribution and trading, while actively considering the development of new businesses such as information and communication technology (ICT) solutions. Recently, it has entered the healthcare business in the health and hygiene sector, as well as expanded its business into promising future fields through startup investments and win-win cooperation with small and medium-sized venture companies.

This content was produced with the assistance of AI translation services.