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Top 100 firms' Q1 overseas sales fall 10 pct amid virus

All News 11:24 June 09, 2020

SEOUL, June 9 (Yonhap) -- South Korea's top 100 companies posted a 10 percent on-quarter decline in their overseas earnings in the January-March period due to the new coronavirus impact on industries, an industry association said Tuesday.

The 100 biggest companies in terms of sales reported their combined overseas sales fell to 170.42 trillion won in the first quarter from 190.17 trillion won in the fourth quarter, the Federation of Korean Industries (FKI) said in a statement.

Companies hit hard by the COVID-19 pandemic include Samsung Electronics Co., LG Electronics Co., SK hynix Inc., Hyundai Motor Co. and Hyundai Mobis Co., it said.

The FKI forecast the 100 firms' sales will decline by another 10 percent in the second quarter on lower demand from the United States, Europe and China amid extended virus woes.

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