SM Life Design Reports Operating Loss of 400 Million KRW, Turns to Deficit

[Asia Economy Reporter Minji Lee] SM Life Design announced on the 3rd that it recorded an operating loss of 474.16 million KRW, turning to a deficit last year. Sales decreased by 21% to 29.1 billion KRW, and the net loss was recorded at 3 billion KRW.

The company stated, "Sales declined due to the reduction of the drama business and the sluggish dining-out business caused by the impact of COVID-19," adding, "The net loss continued due to goodwill impairment related to subsidiaries and a temporary increase in non-operating expenses."