Korean companies report falling third-quarter profits

Yosu site: LG Chem's petrochemical complex. Leading Korean chemical companies reported falling profits for the third quarter of 2012. LG Chem posted a 10% decline in net profits for the third quarter compared with the year-ago period, to 459 billion South Korean won ($416 million). Sales decreased 0.9%, to won5.8 trillion. Operating profits decreased 17% compared with the corresponding period of last year, to won601 billion. OCI, formerly DC Chemical, recorded a 93.8% fall in third-quarter net profits compared with the year-ago period, to won10.6 billion. Sales...

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