[Edaily Reporter Shin Ha-yeon ] DAECHANG Group’s holding company, Seowon(021050), surpassed 1 trillion won in consolidated half-year revenue for the first time in its history, driven by balanced growth across its major subsidiaries and improved profitability.

Seowon announced on the 14th that its consolidated revenue for the first half of this year reached 1.0898 trillion won, a 30.8% increase compared to the same period last year. Operating profit for the same period rose 280.1% to 55 billion won. Net income stood at 26.475 billion won, more than 30 times higher than the 865 million won recorded in the first half of last year. This marks the first time the company’s consolidated revenue has exceeded 1 trillion won on a half-year basis.

DAECHANG(012800), Taewoo, and ESSEN TECH CO., LTD.(043340) —among other major affiliates—drove the group’s overall growth and improved profitability. DAECHANG’s first-half standalone revenue and operating profit rose 25.1% and 102.4%, respectively, compared to the same period last year. Taewoo also saw revenue grow by 30.6% and operating profit increase more than fourfold. ESSEN TECH CO., LTD.’s revenue and operating profit likewise rose by 18.1% and 111.8%, respectively.

Notably, all major domestic affiliates—including Seowon, DAECHANG, I&N Steel CO., LTD., Taewoo, and ESSEN TECH CO., LTD.—posted operating profits and net income in the first half. This indicates that growth in scale and improved profitability occurred simultaneously across all major affiliates, rather than being concentrated in any single subsidiary.

Seowon’s standalone performance also improved. On a standalone basis, first-half revenue reached 182.147 billion won, a 32.9% increase compared to the same period last year. Operating profit rose to 8.706 billion won—approximately 14 times the level of the same period last year—and net income stood at 4.175 billion won, marking a return to profitability.

Consolidated revenue for the second quarter reached 586.858 billion won, a 16.7% increase from the first quarter, setting a new record high on a quarterly basis. The company explained that its capacity for shareholder returns has also expanded, driven by the normalization of earnings and the growth in net income.

Revenue growth was driven by higher selling prices resulting from rising international commodity prices and expanded sales by affiliates. The average price on the London Metal Exchange (LME) rose 31.6% from $9,978 in the first half of last year to $13,132 in the first half of this year.

In terms of profitability, cost-saving measures further boosted results. Seowon reduced its consolidated cost ratio by 3.4 percentage points, from 95.7% to 92.3%, through the purchase of low-cost raw materials and the use of bidding and auction processes. Hedging against exchange rate volatility through forward contracts also contributed to improved profitability.

A Seowon official stated, “In the first half of the year, price increases due to rising raw material costs and expanded sales by major affiliates led to revenue growth, while profitability improved through more efficient raw material procurement.” The official added, “In the second half, we will continue to proactively respond to fluctuations in raw material prices and exchange rates and strengthen our foundation for stable profit generation to enhance shareholder value.”