Suhyup Reports Preliminary Net Profit of 95.4 Billion KRW in H1, Up 113% YoY
[Asia Economy Reporter Kwon Haeyoung] The National Federation of Fisheries Cooperatives (Suhyup) announced on the 19th that its provisional pre-tax comprehensive net profit for the first half of this year was 95.4 billion KRW, an increase of 113.4% compared to 44.7 billion KRW during the same period last year.
The net profit from the mutual aid business (24.9 billion KRW) increased 9.6 times (857.7%) compared to 2.6 billion KRW in the same period last year.
The net profit from mutual finance businesses such as deposits and cards was 59 billion KRW, up 85.5% from 31.8 billion KRW in the same period last year.
The net profit from economic businesses was 10.5 billion KRW, an increase of 15.4% compared to 9.1 billion KRW in the same period last year.
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A Suhyup official explained, "Despite the COVID-19 crisis, fund management performance was good, and as a result, a large amount of reserves was secured in preparation for the future."
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