SEOUL - Kangwon Land Inc. announced a slight decrease in its net profit for the third quarter, with figures showing a 1.3 percent drop to 73.8 billion won (approximately US$56.3 million). The company, in its regulatory filing, attributed the decline to various market factors.
According to Yonhap News Agency, the company's operating profit for the quarter stood at 91.8 billion won, a decrease from the 118.7 billion won reported in the same period last year. Revenue also saw a decline, falling by 5.9 percent to 374 billion won.
The reported figures indicate a challenging quarter for Kangwon Land, reflecting the impact of broader market trends on the company's financial performance.