[Asia Economy Reporter Seo So-jeong] Hana Tour, the number one travel company in Korea, recorded an operating loss in the 100 billion KRW range last year as sales plummeted by more than 80% due to the impact of COVID-19.
Hana Tour announced on the 2nd that its consolidated sales last year were 109.5 billion KRW, down 82.17% from 614.6 billion KRW the previous year.
During the same period, operating profit turned from a surplus of 9.6 billion KRW to a deficit of 114.6 billion KRW.
Net loss expanded from 12 billion KRW to 220.3 billion KRW.
Hana Tour explained, "Operating profit decreased and net loss occurred due to reduced travel industry revenue caused by COVID-19."
On the same day, Hana Tour announced that it decided to sell real estate worth 94 billion KRW, including its headquarters building in Jongno-gu, to Citycore DMC.
The company added, "This asset disposal is aimed at improving financial structure and securing cash liquidity."
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