S.Korea's corporate revenue growth hits five-year high in Q2 on solid chip demand

Source:Xinhua Published: 2017/9/14 15:05:24

South Korea's corporate revenue growth hit a five-year high in the second quarter thanks to strong semiconductor demand in the global market, central bank data showed Thursday.

According to the Bank of Korea (BOK) survey of about 2,600 major companies, corporate revenue gained 8 percent in the April-June quarter compared with the same period of last year.

It marked the fastest increase since the first quarter of 2012, keeping an upward momentum for three quarters in a row.

Revenue among manufacturers advanced 8.4 percent in the quarter on robust demand for locally-made chips. Sales in the electrical and electronic sectors jumped 19.8 percent on fast growth of chipmakers.

Revenue for non-manufacturers rose 7.3 percent in the quarter, after growing 5.9 percent in the previous quarter.

Earnings for big corporations advanced 8.5 percent in the second quarter from a year earlier due to brisk exports, but earnings growth among small companies declined from 5.5 percent in the quarter from 6.7 percent in the prior quarter.

Posted in: ASIA-PACIFIC

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