Kospi-listed firms' profits soar in first half of year due to AI-led semiconductor boom

Korean listed firms reported record earnings during the first six months of this year, thanks to robust global demand for semiconductors used for AI, data showed on Wednesday.

The combined operating profit of 720 companies listed on the benchmark Kospi surged 348.5 percent on year to 275 trillion won ($196.7 billion) from January to June, according to findings released by the Korea Exchange.

Their combined sales jumped 34.5 percent on year to 1.07 quadrillion won, and net profit soared 330 percent to 291.5 trillion won.

Excluding Samsung Electronics and SK hynix, which had enjoyed handsome earnings due to the global AI investment boom, the listed firms saw combined sales grow 6.08 percent, and their operating profits and net profits gained 11.78 percent and 25.44 percent, respectively.

Of the total, 581 firms, or 80.69 percent, were in the black.

By sector, electric and electronic companies and precision machinery makers showed solid performances.

Yonhap