SEOUL, Nov. 17 (UPI) -- South Korea's Young Poong, which runs mining, electronics and book-selling businesses, continues to struggle, as the corporation has failed to halt its string of deficits this year.
The Seoul-based company said Friday that it posted $510 million in sales during the July-September period, up 14.14% over a year ago, for an operating loss of $6 million.
Although Young Poong managed to cut its deficit by more than half, it still could not break out of a loss-making streak, which started in the second quarter of 2024.
During the first nine months of this year, the company's operating loss amounted to $109 million, while its sales also fell more than 10% year-on-year.
Earlier this year, Young Poong suspended operations of its Seokpo refinery, about 125 miles southeast of Seoul, for two months after it released polluted wastewater without permission.
