Korea Shipbuilding & Offshore Engineering announced on the 27th that it had succeeded in turning a profit with an operating profit of 11.1 billion won last year.
On that day, Korea Shipbuilding & Offshore Engineering disclosed that its total revenue last year was 934.7 billion won, a 32% increase compared to the previous year. During the same period, it successfully turned a profit with an operating profit of 11.1 billion won and a net profit of 42.5 billion won.
A representative from Korea Shipbuilding & Offshore Engineering said, "Since attracting investment in 2021, we have successfully turned a profit due to stabilization of production, cost-reduction efforts, and improvements in revenue through the elimination of low-priced cargo, and we believe we have entered a full-fledged growth trajectory."
Expectations for this year's performance are also high. The market price of medium-sized petrochemical product carriers, which are Korea Shipbuilding & Offshore Engineering's main ship type, has been rising, and demand for ship replacements is being maintained due to the strengthened environmental regulations by the International Maritime Organization (IMO).
The company stated, "Based on our return to profitability, all employees will unite this year to establish a stable revenue-generating structure."