Hyosung TNC Reports Substantial Increase in 2023 Net Profit

Seoul - Hyosung TNC Corp. announced a significant rise in its net profit for 2023, reaching 98.7 billion won (US$73.9 million), a 414.5 percent increase from the previous year. This financial performance was disclosed in a regulatory filing on Monday.

According to Yonhap News Agency, The company's operating profit for the year was reported at 213.4 billion won, a considerable improvement from 123.6 billion won in the previous year. However, Hyosung TNC's annual revenue saw a decline of 15.3 percent, totaling 7.52 trillion won.

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