Dongwon Industries, the business holding company of Dongwon Group, announced in a regulatory filing on the 11th that, on a consolidated basis, last year's revenue was provisionally tallied at 9.5837 trillion won, up 7.2% from a year earlier. Operating profit for the same period increased 2.9% to 515.6 billion won.

On a separate basis, revenue came to 1.1062 trillion won, up 2.5% year-on-year, while operating profit rose 21.1% to 155.7 billion won. The improvement in profitability outpaced the growth in revenue, which is being interpreted as evidence of structural improvement.

Dongwon F&B, the food subsidiary, was driven by an expansion in global exports. Exports of Dongwon Tuna to the United States, fronted by BTS member Jin as model, increased by about 30%, and major product categories such as home meal replacement (HMR), pet food, and beverages all posted even growth, pushing total exports up by more than 15%. In the domestic market, revenue from seasoned sauces (tuna extract) increased by more than 40%, and online channels also grew by more than 10%, producing balanced performance across all areas.

Dongwon Group office building in Yangjae-dong, Seoul.

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Dongwon Home Food saw both revenue and operating profit increase across all of its business segments, including seasoned foods, food ingredients, food service, and livestock distribution. Food ingredients and livestock distribution recorded double-digit growth thanks to the expansion of new customers, while the seasoning business continued a stable growth trend in business-to-consumer (B2C) channels based on business-to-business (B2B) demand.

Dongwon Systems, the packaging and materials affiliate, saw revenue growth driven by higher annual exports of packaging materials. In particular, exports of high value-added products such as pet food and retort pouches contributed to improved performance. However, operating profit declined due to higher raw material prices such as aluminum, a strong won-dollar exchange rate, and a slowdown in downstream industries. On a consolidated basis, revenue increased 2.9% to 1.3729 trillion won, while operating profit fell 28% to 66.2 billion won.

The logistics and construction segments also posted growth. The logistics business centered on Dongwon LOEX increased revenue and boosted operating profit by more than 25% thanks to the acquisition of new cargo volume and improved transport efficiency. Dongwon Construction Industry secured new orders such as the Haeundae and Anseong logistics centers, driving revenue up by more than 40%, while its strategy of selective order-taking and cost reduction expanded operating profit by more than threefold.

A Dongwon Group official said, "The business environment is expected to remain challenging this year, following last year, due to the strong won-dollar exchange rate and rising raw material prices," adding, "To overcome these conditions, we will strengthen global expansion in all business groups, while also striving to bear fruit in new businesses such as smart ports and secondary battery materials."

Meanwhile, Dongwon Industries' board of directors on the same day approved a year-end dividend of 600 won per share. This is higher than the company's first-ever interim dividend last year of 550 won per share. The company also decided to cancel all 7,137 treasury shares generated through a comprehensive share swap and bonus issue, thereby strengthening its shareholder return policy.