SK Chemicals Experiences Fourth-Quarter Loss

SEOUL — SK Chemicals Co. reported a net loss of 10.6 billion won (US$8 million) for the fourth quarter, marking a downturn from the profit of 83.5 billion won recorded in the same period a year earlier. The company disclosed in a regulatory filing that its operating income for the October-December quarter plummeted 85.7 percent year-on-year to 6.4 billion won. Moreover, revenue during the quarter fell 9.6 percent to 431.6 billion won.

According to Yonhap News Agency, this loss represents a significant reversal from its financial performance in the previous year, highlighting the operational and financial challenges SK Chemicals faced in the closing quarter of 2023. The sharp decline in both operating income and revenue during the period further accentuates the company's struggles amid a challenging economic environment.

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