Six in 10 listed firms suffer decline in profits
By Kim Bo-eunSixty percent of the country's top 1,000 companies saw their profits fall in 2018 from a year earlier, according to a recent report. Yet the average wage of employees of 66.7 percent of these companies rose. The report, released by the Korea CXO Institute, stated that 597 listed companies either saw their operating income decrease in 2018 from a year earlier or marked an operating loss.Meanwhile, the average wage at the 1,000 companies stood at 55.37 million won ($46,706 million) last year, up 4.3 percent from a year earlier.Among the 1,000 firms, 680 gave their employees raises.Regarding wages, companies that had annual sales of more than 1 trillion won last year paid an average 71.28 million won to their employees, followed by those that made between 500 billion won and 1 trillion won which paid 62.94 million won.Firms that generated between 100 billion won and 5 billion won paid 51.59 million won; and those that made less than 100 billion won paid 46.92 million won.However, there was no correlation between companies' operating income and employee wages."The overall le
Jun 17, 2019By Kim Bo-eun
