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South Korean industrial profit trends

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2026-11-02 04:02 UTC → 2026-11-03 06:33 UTC · added ~~removed~~

Major South Korean companies in the shipbuilding, energy materials, and shipping sectors reported significant third-quarter operating profit growth. In the shipbuilding industry, HD Korea Shipbuilding & Offshore Engineering, Samsung Heavy Industries, and Hanwha Ocean saw combined profits reach 2.27 trillion won. This growth was attributed to a strategic shift toward high-value, eco-friendly vessels like Liquefied Natural Gas carriers. In other sectors, POSCO Future M reported a 23.2% increase in operating profit, driven by a recovery in cathode material sales, even as its anode material segment faced challenges from Chinese competition. Pan Ocean also reported its highest quarterly operating profit in four years, with substantial gains in its dry bulk, tanker, and container ship segments. Recent reports indicate further developments in the battery materials and energy sectors. POSCO Future M has expanded its cooperation with LG Energy Solution through a memorandum of understanding to supply 720,000 tons of cathode and anode materials over seven years beginning in 2027. The company also signed a letter of intent with Hyundai Motor Group to pursue investment and supply cooperation for an artificial graphite anode plant in Vietnam, targeting mass production by 2028. S-OIL reported a 514 percent year-on-year surge in third-quarter operating profit to approximately 1.4 trillion won, fueled by rising international oil prices, strong refining margins, and record lubricant division profits, despite losses in its petrochemical division. Additionally, POSCO Holdings reported a 47.9 percent increase in operating profit to 945 billion won, while Hyundai Steel and Dongkuk Steel also showed improved profitability.

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