SEOUL — In a striking turnaround, Hankook & Company Co. reported a profitable fourth quarter for 2023, contrasting sharply with its performance in the same period a year earlier.
According to Yonhap News Agency, the company secured a fourth-quarter net income of 23.9 billion won (US$18.1 million), moving from a loss of 51 billion won in the previous year's quarter. Operating profit for the quarter was significantly higher at 77.1 billion won, compared to 20.6 billion won a year ago, and sales saw a substantial increase of 39.7 percent, reaching 325.9 billion won.
This financial recovery in the fourth quarter highlights Hankook & Company's effective strategies and operational improvements, positioning the firm for a stronger market presence and future growth.