Top 10 Corporations Report Large Profit from Overseas Resource Development
Top 10 Corporations Report Large Profit from Overseas Resource Development
  • Korea IT Times (info@koreaittimes.com)
  • 승인 2013.07.29 22:34
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SEOUL, KOREA- Korea's large corporations have earned a sizable amount of profit in overseas resource development projects last year.According to Chaebul.com, the site tracking financial news of the nation's major conglomerates, on July 28, the 84 overseas resource development units under top-ten largest corporations excluding state-run enterprises had a combined sales revenue of 3,460.5 billion won and an operating profit of 322.6 billion won in 2012.
 
Their aggregate net profit ratio against sales revenue was 9.3 percent, much higher than their average net profit ratio of 5.5 percent. Of the top-ten business groups, Samsung Group posted the highest amount of profit. The 14 resource development affiliates of Samsung Group including Samsung C&T recorded a sales revenue of 439.1 billion won and an operating profit of 139.7 billion won. Their combined net profit ratio was 31.8 percent.
 
POSCO Group also posted more than 100 billion won of net profit from overseas resource development investment. POSCO's 19 resource development units including Daewoo International had 497.3 billion won and 112.8 billion won of sales revenue and net profit, with a net profit ratio of 22.8 percent.
 
Kim Hwa-nyeon, analyst with Samsung Economic Research Institute, said, "As private corporations tend to be conservative in overseas resource development projects than state-run counterparts, their success rate is higher than that for publicly-owned ones. State-run corporations, in contrast, must take into account securing of stable resource bases, which is why it is more likely for them to take a loss from resource development ventures."
 

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