ULSAN < invest Korea

According to Yonhap News,

The total sales, operating profits, and net income of listed companies in the Ulsan region soared in 2010 compared to the previous year.

Ulsan Chamber of Commerce and Industry (Ulsan CCI) conducted a survey on 68 listed companies in the region on April 21st, which showed that the sales increased by 18.3% to KRW244,476.8 billion, operating profits jumped by 40.8% to KRW19,982.3 billion, and the net income skyrocketed by 63.7% to KRW21,910.9 billion in 2010 on a year-on-year basis.

The figures are based on the total operating performances of establishments across the country.

By business sector, oil, chemicals, automobiles, and shipbuilding showed strong performances.

When it comes to oil products, the sales rose by 20.9%, the operating profit by 101.1%, and net income by 100.8% on a yearly basis. Also, petro-chemicals posted 20.1% increase in the sales, 25.8% rise in the operating profits, and 76.6% in the net income compared to the same period of the previous year.

The sales of the automobiles jumped by 18.9%, the operating profit by 38%, and the net income by 66.5%, while the sales of ships rose by 5.2%, the operating profit by 52.7%, and the net income by 76.6% compared to the previous year.

An official of Ulsan CCI said “sales and operating profits skyrocketed last year on the back of the rise in exports and production and the recovery of consumer confidence” and added “however, the uncertainty of the world economy is increasing and commodity and consumer prices are rising, which is why we cannot rest on our laurels.”

Source Text

Source: Yonhap News (April 21, 2011)

**This is an English translation of a Korean news article.