SM Shipping Posts Profit Turnaround in 2Q... Highest Operating Margin Since Inception
Vice President and CEO Kihoon Park Promoted to President
[Asia Economy Reporter Yu Je-hoon] SM Line recorded its highest operating profit margin of over 10% in the second quarter since its establishment.
SM Line announced on the 27th that it posted sales of 201 billion KRW and an operating profit of 20.1 billion KRW in the second quarter. This is the highest performance since the company's founding, with operating profit turning positive compared to the previous year.
SM Line explained, "The operating profit margin was about 10%, the highest since the company's establishment," and added, "Operating profit improved by approximately 26 billion KRW compared to the previous year."
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Meanwhile, SM Line announced that on the 18th, Vice President Park Ki-hoon was promoted to President. A Sungkyunkwan University graduate, President Park joined Hyundai Merchant Marine (now HMM) in 1991 and served as head of the Europe region headquarters, among other roles. Since last year, he has been leading SM Line as its CEO.
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