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January 9, 2002

SOUTH KOREA: Synthetic Fibre Makers Post Falls In Profits

South Korea's leading producers of synthetic fibre recorded substantial growth in annual turnover last year, but suffered sharp falls in profitability, industry analysts revealed on Wednesday. Industry leader Hyosung Corp said its turnover in 2001 grew 7.9 per cent to 4.2 trillion won ($3.23 billion), from 3.8 trillion won the previous year. However, its operating and ordinary profits fell 15.2 per cent and 33.4 per cent to 340 billion won and 100 billion won, respectively.

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