CoAsia Q3 Revenue 117.1 Billion KRW... "27% Increase Compared to Previous Quarter"

[Asia Economy Reporter Yoo Hyun-seok] CoreAsia, a company specializing in system semiconductor design solutions, announced on the 15th that it recorded sales of 117.1 billion KRW and a net profit of 2.6 billion KRW in the third quarter. Operating loss for the same period was 1.8 billion KRW.

The company stated, “The resurgence of COVID-19 centered in Vietnam and India caused supply issues for smartphone parts, which affected the camera lens division,” adding, “From the fourth quarter, the volume of high-resolution and high-function cameras is increasing, so both sales and profitability are expected to improve.”

Regarding the increase in net profit, the company explained, “Profit and loss improved due to restructuring of IT parts consolidated subsidiaries,” and “Since there were changes in the consolidated subsidiaries this year, a simple comparison with the same period last year is not possible.”

The performance growth of CoreAsiaSemi, which is responsible for system semiconductor design, is positive. CoreAsiaSemi’s cumulative sales recorded approximately 12.2 billion KRW, showing growth of more than 164% compared to the same period last year.

The company said, “With various order contracts continuing, we expect even greater external growth and profitability improvement from next year onward.”

CoreAsia operates a chip design business capable of providing a one-stop turnkey solution from design (RTL) to delivery (distributors). In particular, it holds distributor rights that allow wafer distribution for Samsung Electronics, establishing a close frontline relationship with Samsung Electronics Foundry’s global customers.

The company emphasized, “We are continuously expanding the most important engineering workforce to strengthen system semiconductor capabilities,” and added, “We believe that large-scale orders through aggressive investment and strengthening of business unit competitiveness will determine future corporate value, rather than short-term performance declines caused by fluctuating supply conditions.”

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