Daesang Reports Operating Profit of 123.2 Billion KRW Last Year... 12% Decrease YoY Amid Bio Industry Slump

by Kim Heungsoon

Published 29 Jan.2024 19:02(KST)

Sales of 4.1098 trillion won... 0.6% increase

Daesang announced on the 29th that its operating profit on a consolidated basis last year was tentatively estimated at 123.2 billion KRW, a 12% decrease compared to the previous year. Sales increased by 0.6% to 4.1098 trillion KRW, while net profit for the period decreased by 18% to 67.5 billion KRW.

Daesang Group CI

Daesang explained, "Cash cow products such as sauces and fresh food categories showed growth," but added, "The lysine and bio markets in the materials sector experienced a downturn, worsening profitability." They further stated, "We will stabilize the raw material supply system and improve profitability by expanding specialty starch sugars such as allulose and high value-added products."