EY Han Young Sees 52% Increase in Operating Profit Year-on-Year... Revenue Slightly Down

Growth in Audit Revenue
EY Consulting Drives Corporate Expansion

EY Han Young, comprised of Han Young Accounting Corporation and EY Consulting, announced on September 30 that it achieved total revenue of 764.8 billion won and operating profit of 13.9 billion won for the fiscal year 2024 (July 2024 to June 2025).

Han Young Accounting Corporation recorded revenue of 464.5 billion won and operating profit of 9.1 billion won, while EY Consulting and related entities posted 300.3 billion won and 4.8 billion won, respectively.

EY Han Young stated, "Despite an uncertain domestic and global environment, revenue decreased by 2.3% compared to the previous year. However, as a result of strengthening sound management, revenue per employee improved by 6% year-on-year to 234 million won, based on an average workforce of approximately 3,260 employees." The company added, "Operating profit also increased by 52% compared to the previous year." The average personnel cost per employee at EY Han Young was 126 million won, a 6% increase from the previous year, mainly due to a nearly 10% increase in bonuses for employees.

EY Han Young's audit revenue reached 234 billion won, up 6% from the previous year. This accounted for 31% of EY Han Young's total revenue and 50.4% of Han Young Accounting Corporation's revenue. EY Han Young explained, "Audit revenue has been increasing annually due to strengthened client trust in AI-based digital audits and high-quality assurance."

Han Young Accounting Corporation provides external audit services for Hyundai Motor Company, Kia, LG Electronics, SK Discovery, SK Gas, HD Hyundai, Samsung Engineering & Architecture, Hanwha, Hanwha Life, Hanwha Aerospace, POSCO, KT&G, Korea Aerospace Industries, LS, Doosan Bobcat, Lotte Chemical, Lotte Chilsung Beverage, Seah Group, Hana Financial Group, Meritz Financial Group, BNK Financial Group, and Kyobo Life Insurance Group, among others.

Revenue from EY Consulting and related entities accounted for 39% of EY Han Young's total revenue, establishing itself as a key pillar of the firm's growth. Notably, over the past five years, it has posted an average annual revenue growth rate of 30%, contributing significantly to rapid business expansion. This year, operating profit rose by 53% compared to the previous year, further strengthening the foundation for qualitative growth.

Park Yonggeun, CEO of EY Han Young, stated, "EY Han Young has realigned its management strategy to focus on growth and has been driving a strategic shift toward robust management centered on profitability improvement." He emphasized, "Going forward, we will continue to enhance efficiency and profitability, solidify the foundation for sustainable growth, and actively support our clients in preparing for the future with confidence by advancing organizational expertise and expanding organic collaboration across business units."

This year as well, EY Han Young plans to focus on strengthening sector-specific expertise and advancing collaboration systems among business divisions to further build client trust. Through the integrated operation of the company-wide 'EY AI Hub,' which consolidates AI capabilities and services, EY Han Young aims to improve work efficiency and automation through internal AI innovation, while also continuously expanding AI Transformation (AX) services for corporate clients.

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