KoAsia Reports 130.2 Billion KRW in Q1 Sales, Up 15% Year-on-Year

[Asia Economy Reporter Hyungsoo Park] CoAsia announced on the 17th that its consolidated sales for the first quarter reached 130.2 billion KRW, an increase of about 15% compared to the same period last year. Operating profit recorded 600 million KRW.

A company official stated, "The increase in sales in the system semiconductor division and the strong performance of the camera and lens module division drove the external growth," adding, "Despite worsening internal and external conditions such as global supply chain disruptions and rising raw material costs, we will strive for sustainable growth."

CoAsia recorded sales of approximately 3.9 billion KRW in the system semiconductor division in the first quarter of last year. In the first quarter of this year, it achieved 6.2 billion KRW, a growth of about 61%. Sales increased as various project activities were carried out based on overseas networks.

CoAsia's strategy is to secure more semiconductor design personnel to establish the highest level of design capability in Korea. Last year, it launched the GDEC (Global Design Education Centre) program and hired about 70 new personnel in the first batch, currently providing design education and training. In the second half of this year, it plans to recruit the second batch to build an excellent in-house talent pool.

A company official emphasized, "Operating profit decreased due to increased labor costs from expanding system semiconductor personnel recruitment," and added, "Due to the nature of the industry, investment must be made to carry out large-scale projects in order to achieve high performance."

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