Hanwha Hotel & Resort's food and beverage subsidiary, Hanwha Food Tech, recorded a loss last year due to deteriorating profitability.
According to the Financial Supervisory Service on the 25th, Hanwha Food Tech reported an operating loss of 11 billion won last year, a turnaround from 1.9 billion won in operating profit the previous year. Last year's revenue was 114.9 billion won, a 5.5% decrease from 121.6 billion won the previous year. The net loss for the year was 12.3 billion won, marking a shift to loss within a year.
Hanwha Food Tech is a company established in July 2021 by spinning off the F&B division of Hanwha Hotel & Resort for the purpose of food and beverage business. On July 1st of last year, it merged with the banquet and food and beverage business of Hanwha Hotel & Resort.