Busan Urban Corporation Pays 33.4 Billion KRW in Dividends to Busan City
Dividend of 33.4 Billion KRW Paid from Last Year's Net Profit of 83.5 Billion KRW
...Up 12.1 Billion KRW from Previous Year
Busan Metropolitan Corporation (BMC) recently decided at its 266th board meeting to pay 33.4 billion KRW out of last year's net profit of 83.5 billion KRW to Busan City.
BMC achieved strong business results last year, with sales increasing by 7.3% year-on-year to 628.5 billion KRW, and net profit rising by 17.4% to 83.5 billion KRW.
Since 2016, BMC has been the first among city corporations nationwide to pay dividends to its local government and has continued to do so each year. The cumulative amount of dividends paid until last year totals 169.5 billion KRW, which has been used as financial resources for major policy implementation and the improvement of citizen welfare in Busan.
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Shin Changho, President of Busan Metropolitan Corporation, said, "We have increased the dividend to support Busan City's policy projects and enhance citizen welfare despite challenging economic conditions," and added, "We will do our best to revitalize the local economy and improve the quality of life for citizens."
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