Korea Gas Corporation Sees Operating Profit Drop by 148.7 Billion Won and Civil Accounts Receivable Rise by 87.7 Billion Won in First Half

by Ju Sangdon

Pubilshed 08 Aug.2025 17:12(KST)

First-half Operating Profit Reaches 1.2386 Trillion Won, Down 12% Year-on-Year
Debt Ratio Improves from 423% to 363%

Korea Gas Corporation significantly improved its debt ratio in the first half of the year, thanks to the implementation of its financial soundness plan, despite a decline in operating profit and an increase in accounts receivable, which are effectively considered losses.

Korea Gas Corporation Sees Operating Profit Drop by 148.7 Billion Won and Civil Accounts Receivable Rise by 87.7 Billion Won in First Half

According to its 2025 first-half earnings announcement, Korea Gas Corporation reported a consolidated operating profit of 1.2386 trillion won, down 12.0% from the same period last year. Revenue was 20.3628 trillion won, a 0.3% increase year-on-year, while net profit for the period dropped by 46% to 452.3 billion won.

A company official stated, "The first-half operating profit reflects a decrease in wholesale supply investment returns due to falling interest rates (73.6 billion won) and an increase in gas tariff subsidies for vulnerable groups (59.5 billion won). Despite a sharp decline in operating profit from the Australia Gladstone LNG (GLNG) project due to lower international oil prices, strong performances from the Mozambique Floating LNG (FLNG) facility and the Iraq Zubair project helped maintain operating profit at a level similar to last year."

Consolidated net profit for the first half was 452.3 billion won, down 207.9 billion won from the same period last year. According to Korea Gas Corporation, despite a decrease in operating profit and equity method income, the decline in net profit was limited by improved financial income (96.2 billion won), resulting from lower interest rates and reduced borrowings.

The debt ratio saw a significant reduction. Korea Gas Corporation explained, "Thanks to the faithful implementation of our financial soundness plan, the debt ratio improved markedly from 423% at the end of the first half of 2024 to 363%." However, accounts receivable for civilian raw material costs in the first half increased by 87.7 billion won compared to the end of last year, totaling 14.1353 trillion won.

Korea Gas Corporation Sees Operating Profit Drop by 148.7 Billion Won and Civil Accounts Receivable Rise by 87.7 Billion Won in First Half

First-half Operating Profit Reaches 1.2386 Trillion Won, Down 12% Year-on-Year Debt Ratio Improves from 423% to 363%

First-half Operating Profit Reaches 1.2386 Trillion Won, Down 12% Year-on-Year
Debt Ratio Improves from 423% to 363%