Hansee MK reports operating loss of 21.4 billion KRW last year, expanding 406.5% YoY

Hansae MK announced on the 21st that its consolidated operating loss for last year was tentatively estimated at 21.368 billion KRW. This represents a 406.5% increase in the deficit compared to the previous year.

During the same period, sales amounted to 256.253 billion KRW, a 19.1% decrease from the previous year. Net loss reached 38.4 billion KRW, expanding the deficit by 497.6% compared to the previous year.

Hansae MK explained that the increase in operating loss was due to "a decline in sales from domestic and Chinese subsidiaries and a rise in the cost of goods sold ratio reflecting inventory valuation losses." Regarding the net loss for the period, the company added that "corporate tax expenses increased due to deferred tax accounting."