Gas Corporation's Outstanding Receivables Reach 8.6 Trillion Won... Financial Structure Deteriorates Despite Operating Profit Increase

Unpaid Receivables Surge Due to Minsoo, While Sales and Net Profit Both Increase

At the end of last year, unpaid gas bills for residential and commercial use managed by Korea Gas Corporation amounted to 8.6 trillion won.

On the 24th, through the disclosure of last year's business performance, the Gas Corporation announced that sales, operating profit, and net profit each recorded their highest levels with significant increases compared to the previous year, but the surge in unpaid bills for residential and commercial use worsened the financial structure.

On a consolidated basis, the corporation's operating profit for the past year was 2.4634 trillion won, a 99% increase from the previous year.

[Image source=Yonhap News]

Sales reached 51.7243 trillion won, up 88% from the previous year, and net profit increased by 55% to 1.497 trillion won.

Operating profit for the fourth quarter was 1.118 trillion won, a 170.7% increase compared to the same period last year.

Fourth-quarter sales and net profit were recorded at 18.1576 trillion won and 887.7 billion won, respectively.

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