South Korean firms fare worse than US counterparts in H1 2023

Seoul: South Korea's major companies, including Samsung, performed far worse than their US counterparts in the first half of 2023 due to the sluggish chip and energy sectors amid a global economic slowdown, a report showed on Monday. Samsung Electronics saw its sales, operating profit and net profit dip 21.5 per cent, 95.4 per cent and 86.9 per cent on-year, respectively.

Comparable figures of its US counterpart, Apple, dropped 4.2 per cent, 10 per cent and 9.2 per cent, reports Yonhap nNews Agency. South Korea's top 100 non-financial firms listed on the main local bourse saw their combined sales edge up 0.3 per cent on-year to $746.3 billion in the January-June period.