Taekwang Industrial cuts operating loss to 724 billion won amid decreased sales

Taekwang Industrial announced on the 10th that it recorded an operating loss of 27 billion won last year, reducing its operating loss by 72.4 billion won compared to the previous year.

During the same period, sales decreased by 6.3% to 2.1219 trillion won, but the net profit turned positive to 220.6 billion won from a loss of 14.7 billion won.

Taekwang Industrial noted that "sales decreased due to reduced demand from unstable international circumstances, but profit increased due to cost improvements and the disposal of shares in associated companies."