Korean Companies to See Higher Earnings in 3Q

Surprisingly higher earnings by major Korean companies are expected in the third quarter, following stellar performances in the second quarter despite the global economic crisis.

The better-than-expected performances of domestic companies, which will help Korea gain ground in the global market, are being attributed to their aggressive efforts to expand market share and focused investment in new growth businesses, experts said.

Pundits on the securities and other related industries said Samsung Electronics is expected to post a third-quarter operating profit of 3.2 trillion to 3.9 trillion dollars (2.6 billion to 3.2 billion U.S. dollars), up 2.6 times from 1.48 trillion won (1.21 billion dollars) over the same period last year.

Samsung Electronics surprised the world by recording 2.52 trillion won (2.06 billion dollars) in operating profit in the second quarter.

nex@donga.com