E-Mart Reports Net Loss in 2023, Reversing Prior Year’s Profit

SEOUL - E-Mart Inc. experienced a significant financial downturn in 2023, reporting a net loss of 187.5 billion won (approximately US$140.2 million), a stark reversal from the 1 trillion won profit recorded in the preceding year.

According to Yonhap News Agency, This development was disclosed in a regulatory filing on Wednesday, where the company also noted an operating loss of 46.9 billion won for the year, contrasting sharply with the 135.7 billion won profit from the previous year. Despite these challenges, E-Mart's annual revenue saw a marginal increase of 0.5 percent, reaching 29.47 trillion won.

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