The profitability of South Korean companies worsened to the lowest level since 2008, affected by difficult business conditions at home and abroad, government data showed Tuesday.

According to the data by Statistics Korea, companies earned an average of 39.2 won ($0.04) in net profit last year for every 1,000 won worth of sales before deducting corporate taxes. This was down from 47.2 won a year earlier.

This marked the lowest level since 2008 when the country was struggling from the global financial crisis. At that time, the corresponding number was 32.5 won, more than half of the previous year’s 69.2 won.

The data showed that the construction and the transportation sectors were among the worst performers last year, posting 33.5 won and 47.2 won in losses per 1,000 won in sales.

The lackluster performance is due mostly to toughened economic conditions and intensified competition in global markets, the agency said. (Yonhap)