Kumho Petro Chemical Reports Sharp Decline in 2023 Net Income

SEOUL—Kumho Petro Chemical Co. has announced a significant decrease in its net income for the year 2023, with figures reaching 436.2 billion won (US$326.6 million), marking a 57.2 percent decline from the previous year.

According to Yonhap News Agency, the operating profit for the year also saw a substantial decrease, falling 68.7 percent to 359 billion won. Furthermore, the annual sales reported a downturn, with a 20.7 percent reduction to 6.32 trillion won.

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