Korea Technology Reports Operating Profit of 6.2 Billion Won Last Year, Up 20.3% YoY

[Asia Economy Reporter Jang Hyowon] Korea Technology, a KOSDAQ-listed company, announced on the 22nd that its consolidated operating profit for last year increased by 20.3% year-on-year to 6.2 billion KRW. During the same period, sales rose by 9.4% to 353.4 billion KRW.

The company attributed the increase in sales and operating profit despite the worst management conditions due to the COVID-19 impact to its subsidiary Daewoo Shipbuilding & Marine Engineering Construction's nationwide expansion of its order network, continuous contract acquisitions, and financial restructuring.

In particular, with the enforcement of the Serious Accident Punishment Act raising industry interest in safety, Daewoo Shipbuilding & Marine Engineering Construction's safety management system has been re-evaluated, which positively influenced sales growth.

Korea Technology plans to increase sales volume through successful entry into real estate non-fungible tokens (NFTs) and development projects, along with expanding orders in Seoul and the metropolitan area by its subsidiary Daewoo Shipbuilding & Marine Engineering Construction, aiming for a revaluation of the company's valuation.

A company official stated, "The rise in sales and operating profit is a positive signal for the company," adding, "We will continue the upward trend and diligently prepare new businesses with affiliates and subsidiaries to enhance shareholder value."

Meanwhile, Korea Technology's subsidiary Daewoo Shipbuilding & Marine Engineering Construction is attracting industry attention with its innovative safety management system, including a daily safety management cycle and the introduction of smart safety devices.

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