▲ A rendered image illustrating semiconductors used in artificial intelligence (Yonhap)

listed firms-earnings

Listed firms' profits jump in Q1 thanks to chip boom

SEOUL, May 19 (Yonhap) -- South Korean listed firms reported record earnings during the first three months of this year on robust demand for semiconductors helped by the artificial intelligence (AI) boom, data from the bourse operator showed Tuesday.

The combined operating profit of 639 companies listed on the benchmark Korea Composite Stock Price Index (KOSPI) surged 175 percent on-year to 156.3 trillion won (US$103.9 billion) in the January-March period, according to the data compiled by the Korea Exchange.

Their sales rose 19.4 percent on-year to 927.5 trillion won, and net profit surged 117.8 percent to 141 trillion won combined, the latest findings showed.

However, the data showed the spike in listed firms' earnings was mainly led by Samsung Electronics Co. and SK hynix Inc., which have enjoyed handsome earnings due to the surge in all things AI.

Excluding Samsung Electronics and SK hynix, the listed firms saw sales grow 9.07 percent, while their operating profits and net profits gained 44.4 percent and 55.7 percent, respectively.

Of the total, 590 firms, or 81.16 percent, were in the black.

By sector, electric and electronic companies, and carmakers showed solid performances.

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