KoAsia Reflects Exclusion of BSE Consolidation... H1 Sales Reach 181.5 Billion KRW

[Asia Economy Reporter Hyunseok Yoo] CoreAsia, a system semiconductor design solution specialist company, announced its first half-year performance after selling its subsidiary BSE.

CoreAsia reported sales of approximately 181.5 billion KRW, operating profit of 1.5 billion KRW, and net profit of 2.9 billion KRW for the first half of the year on the 17th.

The company explained, "Since the scope of consolidated subsidiaries has changed, simple comparisons with the same period last year or the previous quarter are not possible." CoreAsia sold its audio components business unit BSE for about 45.8 billion KRW. Accordingly, BSE's sales and operating profit for the first half were excluded from the consolidated results and partially recorded as discontinued operations in separate accounting accounts.

The company stated, "Even excluding the performance of the audio components business unit, we continue to generate steady sales and profits from the LED and camera module business units, playing a stable cash cow role across the group," adding, "We will continue to strengthen the competitiveness of the system semiconductor business unit, which is our next-generation core business and is receiving focused investment."

It further explained, "The system semiconductor business unit is still in the early stages, so there are still extensive capital expenditures including new personnel investments," and "Revenue is recognized based on progress according to the design service industry characteristics of Samsung Foundry, reflecting this in the performance."

CoreAsia expects the overall business conditions in the second half to be favorable. It plans to focus on achieving solid sales and profits by expanding LED supply to major eco-friendly finished car manufacturers and increasing orders for Samsung Galaxy ecosystem products through integrated solutions of camera modules and optical lenses.

A CoreAsia official said, "Although uncertainties related to COVID-19 still exist, expectations for improvement in the system semiconductor market and value increase in the foundry industry in the second half remain valid," adding, "We will aggressively pursue expansion of advanced process chip design supply and global engineer recruitment."

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