IPARK Hyundai Development Company said on the 2nd that under consolidation it posted revenue of 914.6 billion won and operating profit of 122.7 billion won in the second quarter of 2026. Compared with the previous first quarter (revenue 673.9 billion won and operating profit 80.1 billion won), revenue rose 35.7% and operating profit increased 53.1%. Operating profit also grew 52.9% from the same period a year earlier (80.3 billion won). Net profit came to 83.7 billion won, up 69.8% from the previous quarter.
IPARK Hyundai Development Company followed a first-quarter operating margin of 11.9% with 13.4% in the second quarter (13.7% on a separate basis), marking double-digit operating margins for two straight quarters. It is the first time in about five years that single-quarter operating profit has topped 100 billion won since the second quarter of 2021.
An IPARK Hyundai Development Company official said, "Profitability improved significantly through a business portfolio focused on improved cost ratios and high-return in-house projects and high-quality large project sites," adding, "In the second half, we expect in-house projects including Seoul One IPARK and large, high-quality project sites such as Cheonan IPARK City and Unjeong IPARK Forest to underpin stable results and continue the improvement trend."
Meanwhile, IPARK Hyundai Development Company plans to maintain its performance improvement trend in the second half by supplying high-quality project sites and pushing ahead with key development projects.
Buoyed by near sellout results at Cheonan IPARK City complexes 5 and 6, which were offered in the first half, the company will move forward with sales for Cheonan complexes 3 and 4 in the second half. In addition, as supplies roll out sequentially at hub complexes with strong local preference—such as Cheongju Gagyeong IPARK complexes 7 and 8 and Incheon City O.C.L. complex 9—the company is expected to achieve its annual target of supplying 13,000 households.
Starting with ground-breaking for the Bokjeong Station area development project in the fourth quarter of this year, large, converged mega projects such as the Gongneung Station area development project, the Yongsan Railway Hospital site development project, and Jamsil sports·MICE will also be activated sequentially.
Meanwhile, to enhance shareholder value, the company is also pursuing shareholder return policies, including newly acquiring and retiring about 1.5 million treasury shares worth 30 billion won. Advancing such shareholder return policies is expected to improve indicators such as earnings per share (EPS).
An IPARK Hyundai Development Company official said, "We plan to continue strengthening our portfolio around businesses that can secure both profitability and growth," adding, "We will build a stable business base by expanding the supply of urban renewal projects and high-quality business sites, and secure long-term growth drivers based on the IPARK brand's competitiveness."