Seoul: LG Corp. on Thursday reported a net loss of 297.2 billion won (US$205.2 million) in the fourth quarter, shifting from a profit of 65 billion won a year earlier. The company faced significant financial setbacks during this period, marking a notable change from the previous year’s performance.

According to Yonhap News Agency, the company said in a regulatory filing that it posted an operating loss of 227.2 billion won for the October-December period, compared with a profit of 119.6 billion won a year ago. The financial results indicate a challenging period for the corporation, highlighting the differences in profitability from the previous year.

Revenue also fell, decreasing by 11.6 percent to 1.79 trillion won. This decline illustrates the broader financial difficulties experienced by LG Corp. in the fourth quarter. The company will need to address these challenges as it moves forward into the new fiscal year.