LG Corp Reports Decrease in 2023 Net Income by 33.2%

SEOUL — LG Corp. disclosed a 33.2 percent decrease in its net profit for the year 2023, amounting to 1.41 trillion won ($1.1 billion).

According to Yonhap News Agency, operating profit also experienced a downturn, dropping 18.2 percent to 1.58 trillion won from the previous year. Conversely, annual revenue showed a positive movement, with a 3.6 percent increase to 7.44 trillion won.

The reduction in net income and operating profit indicates challenges faced by LG Corp., despite achieving a slight increase in annual revenue. This mixed financial outcome reflects the varying dynamics within the conglomerate's diverse business operations.

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