Shinil Electronics Achieves Record High Sales of 172.4 Billion KRW Last Year

Jung Yoon-seok CEO: "Moving Beyond Fan Company to Become a Comprehensive Home Appliance Enterprise"

Comprehensive home appliance company Shinil Electronics announced on the 30th that it recorded its highest sales since its founding last year, amounting to 172.4 billion KRW. Photo by Shinil Electronics

[Asia Economy Reporter Kim Heeyoon] Shinil Electronics, a comprehensive home appliance company, announced on the 30th that it recorded the highest sales in its history last year.

On the same day, Shinil Electronics held the 62nd regular shareholders' meeting at the Shinil Electronics headquarters in Cheonan, Chungnam. Shinil Electronics recorded sales of 172.4 billion KRW last year, marking the highest sales ever. This represents an 18% increase compared to the previous year. Operating profit also rose 313% year-on-year to 6.2 billion KRW.

Jung Yunseok, CEO of Shinil Electronics, said, "Despite difficult business conditions such as the COVID-19 pandemic last year, sales of seasonal home appliances performed well, resulting in sales of 172.4 billion KRW, an 18% increase from the previous year, achieving the highest sales in the company's history. Operating profit also achieved a solid performance of 6.2 billion KRW, a 313% increase compared to the previous year."

He added, "At last year's shareholders' meeting, we changed the company name from Shinil Industry to Shinil Electronics to break away from the entrenched image of a 'fan company' and are advancing as a comprehensive home appliance company. This year as well, all executives and employees will do their utmost to create new growth momentum to repay the support from our shareholders."

Meanwhile, at the shareholders' meeting, approval of the financial statements and a cash dividend of 20 KRW per share were also resolved.

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