Chong Kun Dang Bio Reports Operating Loss of 11.4 Billion KRW Last Year... Returns to Deficit

[Asia Economy Reporter Lee Seon-ae] Chong Kun Dang Bio announced on the 28th that its consolidated operating loss last year was 11.4 billion KRW, turning to a deficit compared to the previous year.

During the same period, sales increased by 14.2% year-on-year to 142.2 billion KRW, but the net loss for the period was tentatively estimated at 6.6 billion KRW, turning to a deficit.

The company explained, "Profits decreased due to a decline in global antibiotic demand and price drops caused by the prolonged COVID-19 pandemic."