Top four groups hit all-time high sales

The first-half performances of large corporations were estimated to hit an all-time high. The combined sales of the nation`s top four business groups--Samsung, Hyundai, LG and SK--reached 182 trillion won and their net profit is expected to far exceed 8 trillion won.

Other smaller business groups also enjoyed record sales and profits thanks to soaring exports and domestic sales. Particularly, electronics and auto sectors showed the greatest performances among all industries.

Samsung was the most brilliant performer. Samsung Group companies, including 14 firms listed on the Korea Stock Exchange, generated sales totaling more than 60 trillion won, which is over 15% increase from 52 trillion won recorded during the same period of a year ago.

Hyundai`s first-half sales also jumped 18% to 52 trillion won from a year-ago`s 44 trillion won, thanks largely to brisk performances of automotive and shipbuilding businesses. The group`s net profit is estimated at about 2 trillion won.

LG estimated that its net profit would rise by 15.4% to 1.5 trillion won on sales of 40 trilion won, which represents a 33% increase from the previous year.

SK`s first-half sales also soared by 44.9% to 30 trillion won from last year`s 20.7 trillion won, according to company officials. Its net profit is projected to rise 66.7% to 700 billion won.

As for Lotte, the group`s sales and net profit are estimated to have increased by 27.3% and 13.6% to 5.5 trillion won and 250 billion won, respectively. Pohang Iron & Steel is expected to enjoy 5.82 trillion won and and 1.66 trillion won in sales and net profit by recording an increase of 13.9% and 143%, respectively.

Daewoo Group, which is placed under a workout program, estimated its sales and net profit during the first half at 4.01 trillion won and 43.3 billion won. Daewoo Corporation`s sales and operating profit is estimated at 15.5 trillion won and 498 billion won. But, the company is divided into two separate firms of trading and construction businesses.

Hanwha estimated that its sales and net profit would rise by 20% and 50% to 3.6 trillion won and 120 billion won, respectively. Ssangyong estimated 4.5 trillion won in first-half sales. Kumho reported 3.1 trillion won in sales, up 2.7 trillion won, and 180 billion won in net profit, which shows a decline of 50 billion won.