[Public Notice+] MK Electronics, 1Q Operating Profit 4 Billion Won... "Continued Performance Improvement in 2Q"

[Asia Economy Reporter Hyunseok Yoo] MK Electronics announced on the 18th that despite the impact of the novel coronavirus disease (COVID-19) in the first quarter of this year, it achieved record-high performance with sales of 120.8 billion KRW and operating profit of 4 billion KRW.

An MK Electronics official stated, “The increase in this year’s performance is due to the increased usage of products related to non-face-to-face sectors such as servers and PCs caused by COVID-19,” adding, “We increased volume by enhancing customer satisfaction through sales capabilities and service responsiveness, compensating for difficulties in supply from domestic and overseas competitors due to factory shutdowns.”

He continued, “The first quarter performance saw simultaneous increases in both domestic and overseas volumes, and this is not simply a temporary increase caused by COVID-19,” explaining, “This proves that our product quality and service have been recognized by various clients, not just specific customers.”

MK Electronics is confident in performance improvement in the second quarter of this year as well. This is because Japanese competitors at production bases in Japan and Southeast Asia are facing volume response issues due to the spread of COVID-19. A company official emphasized, “Recently, in our core businesses of bonding wire and solder ball sectors, we have continuously developed high value-added new products, creating opportunities for mutual synergy with clients in terms of profitability,” and added, “We will continue to maintain a stable growth foundation that is resilient to external environments and achieve the highest performance within this year.”