Profitability of South Korean businesses except financial and insurance firms worsened last year amid a protracted economic slump, the country’s statistical office reported Thursday.
In 2012, companies earned 47.2 won per 1,000 won before corporate tax, down from 52 won a year earlier, Statistics Korea said, based on a survey of 12,010 firms employing 50 workers or more except financial and insurance firms.
Profitability plunged to 33 won per 1,000 won in 2008, when the country was hit hard by a financial crisis, from 69 won in the previous year. It rose to 53 won in 2009 and 62 won in 2010, but dropped again to 52 won in 2011 and 47.2 won in 2012.
Businesses in the fields of publication, video and communications saw their profitability fall to 71.9 won last year from 92.5 won the previous year, the report said.
Profitability of construction firms declined from 0.3 won in 2011 to minus 15.2 won last year. They suffered a combined loss of more than 2 trillion won in 2012, it said.
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