Seoul: LG Chem Ltd., South Korea's leading chemical firm, on Thursday reported its second-quarter net loss of 111.9 billion won (US$80.9 million), marking a shift from a profit of 59.8 billion won in the same period a year earlier.
According to Yonhap News Agency, the company's operating profit for the April-June period increased by 21.5 percent to 476.8 billion won. However, despite the rise in operating profit, LG Chem experienced a revenue decrease of 6.7 percent, amounting to 11.41 trillion won.
The financial results highlight the challenges faced by the chemical giant in maintaining profitability amid fluctuating market conditions. The reported figures underscore the need for the company to reassess its strategies in response to economic pressures.