The Korea Herald

피터빈트

Mobile carriers bag over 9 tln won in net profit since 2010: data

By KH디지털2

Published : Sept. 14, 2015 - 15:00

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Major mobile carriers in South Korea have reaped more than 9 trillion won ($7.6 billion) in net profit over the past five years, parliamentary data showed Monday.

The cumulative net profit of the three telecom companies -- SK Telecom, KT Corp. and LG Uplus Inc. -- came to 9.6 trillion won from 2010-2014, with their combined revenue reaching 209.1 trillion won in the cited period, according to data submitted to a lawmaker for a parliamentary audit, which took place earlier in the day.

Of the net income, they spent 5.6 trillion won, or 58 percent, on dividends, the data showed. Of such rewards, some 2.7 trillion won were paid to their foreign shareholders.

SK Telecom is 43.2 percent owned by offshore investors, with the foreign ownership in KT and LG Uplus each standing at 47.4 percent and 35.7 percent as of last Friday, according to the Seoul bourse.

The aggregate retained earnings held by the three firms came to 27.1 trillion won as of end-2014. SK Telecom's reserves, including cashable assets, stood at 16.3 trillion won at the end of last year, followed by KT with 9.2 trillion won and LG Uplus with 1.6 trillion won, according to the data. (Yonhap)