South Korean corporate earnings up 20.6% in 2024 on AI-led chip exports

ANI
20 Dec 2025, 16:29 GMT+10

Seoul [South Korea], December 20 (ANI/WAM): South Korean companies' earnings recorded a 20 per cent on-year gain in 2024 on increased exports of semiconductors, government data showed Tuesday.

The combined before-tax net profit of South Korean companies reached 181.9 trillion won (US$123.9 billion) last year, up 20.6 per cent from 150.8 trillion won tallied in 2023, according to data compiled by the Ministry of Data and Statistics.

In line with such a trend, South Korean companies increased their spending on research and development (R&D), with related expenditures rising 21.4 per cent on-year to 97 trillion won.

The surveyed firms' combined sales reached 3,371.1 trillion won this year, up 5.2 per cent from the previous year.

The data, meanwhile, showed that 40.3 per cent of the polled firms, or 6,009 out of 14,922, held subsidiaries at home and abroad.

By country, China accounted for the largest share of 21.9 per cent, followed by the United States with 16.4 per cent and Vietnam with 11.8 per cent.

A total of 401 companies expanded into new business areas in 2024, with 54.9 per cent of them in the manufacturing sector. (ANI/WAM)

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Milwaukee Sun.

More Information

International

Section

Hong Kong court finds media tycoon Jimmy Lai guilty of conspiracy

HONG KONG: Jimmy Lai, the media tycoon and pro-democracy campaigner, was found guilty on December 15 of conspiracy to collude with...

Australia’s already strict gun laws under lens after Sydney killings

SYDNEY, Australia: After a father-and-son duo slaughtered at least 15 people celebrating Hanukkah at Sydney's Bondi Beach on December...

Nick Reiner arrested on suspicion of murdering his parents

LOS ANGELES, California: Nick Reiner, the 32-year-old son of Hollywood icon Rob Reiner, was arrested on suspicion of murdering his...

United States in grip of reading recession

The United States is in the grip of a reading recession—nearly half of Americans didn't read a single book in 2023, and fewer than...

Enhertu wins FDA approval as initial therapy for breast cancer

SILVER SPRING, Maryland: A significant shift in the treatment of HER2-positive breast cancer is underway in the United States, after...

Brazilians want Bolsonaro to serve his full prison term

SAO PAULO, Brazil: Over the weekend, thousands of Brazilians took to the streets in major cities to protest against a move by the country's...

Wisconsin

Section