[Public Notice+] Korea Biogen H1 Operating Profit 2.5 Billion Won... Up 128% YoY

Growth Expected with Expansion of Overseas Clients

[Asia Economy Reporter Minwoo Lee] The operating profit of Korea Biogen, a specialist in functional silicone materials, nearly doubled in the first half of this year compared to the same period last year.

Korea Biogen announced on the 12th through its semi-annual report that it recorded sales of 12.4 billion KRW and operating profit of 2.5 billion KRW in the first half of this year. Compared to the first half of last year, sales and operating profit increased by 37.1% and 128.3%, respectively. Net profit for the same period also rose by 97.3% to 1.9 billion KRW.

Specifically, domestic sales reached 8.2 billion KRW, and direct exports amounted to 3.9 billion KRW, increasing by 37.2% and 59.8% respectively compared to the same period last year. A Korea Biogen official explained, "In the MQ resin product group, which is a core material used in silicone coatings, tapes, PSA, OCR, and OCA applied to the display, electrical and electronic industries, and medical industry, sales reached 3.3 billion KRW, a 67% increase compared to the same period last year," adding, "In the adhesive materials market, which was mainly dominated by acrylic or urethane-based products, the demand for silicone’s unique properties such as high heat resistance is increasing, so its applications are expected to expand and related sales will continue to grow."

Korea Biogen is pursuing a strategy to create new growth engines by successfully completing government-supported research and development (R&D) projects currently underway, such as 'Development of Solvent-Free MQ Resin and PSA for OLED Encapsulation' and 'Development of High Heat-Resistant, Flame-Retardant, and Eco-Friendly Silicone-Based Foamed Elastic Materials Applied to the Semiconductor and Railroad Industries.'

A Korea Biogen official emphasized, "Overseas companies are reorganizing their raw material supply chains from China to countries like Korea, and Korea Biogen has built a high level of trust through long-term transactions with foreign companies, gaining a reflective benefit from this market restructuring," adding, "Not only is domestic sales expected to expand through overseas clients, but new export clients in the U.S., Europe, and India are continuously increasing, so growth is expected to continue."

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