SK Chemicals Reports Sharp Decline in 2023 Net Profit

BY admin

SEOUL — SK Chemicals Co. announced a significant decrease in its net profit for the year 2023, with earnings falling 79.3 percent to 47.9 billion won (US$36.1 million). The company, in a recent regulatory filing, highlighted a drop in operating profit to 84.6 billion won from the previous year's 230.5 billion won. Additionally, SK Chemicals saw its annual revenue decrease by 4.4 percent, totaling 1.74 trillion won.

According to Yonhap News Agency, the stark decline in profitability underscores the challenges faced by the company in the past year. The decrease in both operating profit and annual revenue indicates a significant downturn in the company's financial health, marking a challenging period for the chemical industry giant.

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