Dongwon Industries Q3 Operating Profit 63.3 Billion KRW... 9% Decrease YoY

[Asia Economy Reporter Koo Eun-mo] Dongwon Industries announced on the 2nd that its consolidated operating profit for the third quarter of this year was tentatively estimated at 63.3 billion KRW, a 9% decrease compared to the same period last year. During the same period, sales increased by 22.2% to 901.2 billion KRW, while net profit decreased by 11.9% to 48.7 billion KRW.

A representative from Dongwon Industries stated, "We are continuously maintaining the performance trend of the first half of this year, which recorded the highest results ever. The seafood business division is performing well, and both the distribution and logistics businesses are showing solid results. Our core subsidiary, Starkist in the United States, is also maintaining strong performance."

On the 1st of this month, Dongwon Industries completed its merger and started anew as the integrated Dongwon Industries. By absorbing Dongwon Enterprises and launching as a 'business-type holding company,' the group plans to incorporate its core affiliates as subsidiaries and enhance management efficiency.

Dongwon Industries regards this merger as a 'second founding' and plans to open a new 50 years for the group through business convergence, support, and investment activities. The strategy includes diversifying the food sector portfolio and expanding investments in new businesses such as the new materials field.

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