Juseong Engineering Reports 88.6 Billion KRW in Cumulative Q3 Sales... "Due to Decreased New Investments"

[Asia Economy Reporter Hyunseok Yoo] Jusung Engineering, a specialized company in semiconductor, display, and solar manufacturing equipment, announced on the 2nd that its cumulative consolidated sales for the third quarter of this year reached 88.6 billion KRW, with an operating loss of 15.3 billion KRW.

This sales figure represents a 55% decrease compared to the same period last year. Operating profit turned into a loss. A company official explained that the main reason for the poor performance was the reduction in new investments by major semiconductor and display customers due to uncertainties in the future of the upstream industries.

Jusung Engineering expects that equipment investments by major and new customers have resumed from the third quarter, leading to an increase in order backlog from the fourth quarter. Furthermore, leveraging achievements such as securing new technologies through continuous research and development (R&D) investments and expanding its customer base, the company stated that significant sales growth is expected in 2021.

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