Young Poong recorded a net loss of over 260 billion won last year. The scale of the net loss tripled due to the deterioration of major business performance.
According to the Financial Supervisory Service's electronic disclosure system on the 17th, Young Poong noted that its revenue for 2024 decreased by 25.95% compared to the previous year, amounting to 2.78 trillion won. Last year's operating loss was 162.2 billion won, and the net loss for the period was 263.3 billion won. The scale of the net loss more than tripled compared to the previous year.
Young Poong stated, "The increase in consolidated losses was due to the deterioration of the performance of consolidated corporations and subsidiaries."
The sluggish performance in the institutional sector of the printed circuit board (PCB) business, driven by non-ferrous metal refining and business diversification, is cited as a reason for the poor results. The operating rate of the Seokpo Refinery was only in the 50% range as of the end of the third quarter last year. The PCB subsidiary, Korea Circuit, recorded an operating loss of 33.4 billion won and a net loss for the period of 121.7 billion won last year.
The Seokpo Refinery is expected to face increased performance burdens, having received a suspension order from March 26 to April 5 for violating the Water Environment Preservation Act.