[Edaily Reporter PARK MIN ] In the first half of this year, companies listed on the Korea Stock Exchange (KOSPI) recorded sales exceeding 2,000 trillion won (based on consolidated results) and an operating profit of 388 trillion won, driven by an improvement in the semiconductor market. In particular, SamsungElectronics and SK hynix led the performance, accounting for 58% of total operating profit—more than half of the total.

However, even excluding these two companies, most listed firms showed balanced growth, with revenue and operating profit both posting double-digit increases. On the other hand, performance varied by sector, with some industries—such as transportation and warehousing, and electricity and gas—continuing to see declining profits.

◇First-Half Financial Results: Listed Companies’ Operating Profit Jumps by Triple Digits Year-Over-Year

According to the “2026 First-Half Financial Results for December-Year-End Companies on the Stock Market” released on the 19th by the Korea Exchange and the Korea Listed Companies Association, most KOSPI-listed companies posted double-digit or higher year-over-year growth in revenue, operating profit, and net profit during the first half of this year.

First, based on consolidated financial statements, the first-half revenue of the 634 companies analyzed totaled 2,000.1261 trillion won, a 28.84% increase, while operating profit rose 254.15% to 388.1532 trillion won. Net profit also increased by 333.30% to 386.6740 trillion won.

Profitability also improved significantly. The operating profit margin as a percentage of revenue improved by 12.35 percentage points, from 7.06% to 19.41%, while the net profit margin improved by 13.58 percentage points, from 5.75% to 19.33%.

On an individual company basis, the revenue of 720 companies in the first half of this year totaled 1,070.5326 trillion won, a 34.47% increase compared to the same period last year. In particular, operating profit surged by a staggering 348.85% year-over-year to 275.0772 trillion won, and net profit also jumped by 330.54% to 291.5471 trillion won.

On an individual basis, the operating profit margin rose by 18.00 percentage points from 7.70% in the first half of last year to 25.70% this year, while the net profit margin as a percentage of revenue increased by 18.73 percentage points from 8.51% to 27.23%.

◇Samseong INICS Corporation Leads KOSPI’s Overall Operating Profit

The most striking feature of the first-half earnings of KOSPI-listed companies this year is the overwhelming contribution made by SamsungElectronics(005930)and SK hynix(000660). It would not be an exaggeration to say that the operating profit of KOSPI-listed companies came almost entirely from SamsungElectronics and SK hynix.

The two companies’ combined revenue on a standalone basis totaled 380.64 trillion won, accounting for 35.56% of all companies analyzed, while their combined operating profit reached 226.55 trillion won, representing 82.3% of the total.

On a consolidated basis, the two companies’ revenue totaled 437.27 trillion won, accounting for 21.86% of all analyzed companies, while their operating profit totaled 244.88 trillion won, representing 58% of the total.

While SamsungElectronics and SK hynix are widely recognized as the “key drivers of KOSPI earnings growth,” even excluding these two companies, most listed firms posted double-digit growth in both revenue and operating profit, demonstrating broad-based growth.

Among the companies analyzed on a consolidated basis, the 632 listed companies excluding SamsungElectronics and SK hynix reported revenue of 1,562.8582 trillion won, a 15.01% increase from the previous year. Operating profit rose 75.61% to 143.2751 trillion won, and net profit increased 119.68% to 133.5558 trillion won.

On a standalone basis, the 718 listed companies—excluding those two—reported revenue of 689.8974 trillion won and operating profit of 48.5269 trillion won, up 6.08% and 11.78%, respectively, from the previous year. Net income rose 25.44% to 55.3388 trillion won.

In particular, as the growth rate of net income significantly outpaced that of revenue, this is interpreted as indicating both a reduction in cost burdens and an improvement in profitability.

◇ Electrical and Electronics Operating Profit Up 675%… Chemicals and General Services Also Show Improvement

By sector, the improvement in performance in the electrical and electronics sector—which includes SamsungElectronics and SK hynix—was by far the most notable.

On a consolidated basis, first-half revenue for the electrical and electronics sector reached 582.7473 trillion won, an 80.47% increase from the same period last year. Operating profit surged 674.92% to 253.5026 trillion won, while net profit rose 697.01% to 255.7436 trillion won.

In the chemicals sector, revenue rose by 22.02%, while operating profit surged by 203.76% and net profit jumped by 432.14%. The general services sector also saw revenue increase by 27.69%, with operating profit and net profit rising by 237.04% and 361.07%, respectively.

The metals sector saw operating profit rise by 62.99% and net profit by 85.98%, while the machinery and equipment sector also showed improvement, with operating profit up 32.93% and net profit up 110.36%. The retail sector also saw revenue increase by 13.97%, operating profit by 22.20%, and net profit by 53.63%.

On the other hand, there were marked disparities across sectors. In the transportation and warehousing sector, while revenue rose by 11.60%, operating profit fell by 17.71% and net profit by 62.53%. In the transportation equipment and parts sector, revenue rose 7.78%, but operating profit fell 6.17%. The electricity and gas sector also saw declines in revenue, operating profit, and net profit.

◇ Record-breaking earnings for securities firms amid a “booming stock market”… Improved profitability in the financial sector

In the financial sector, the securities industry posted record-breaking earnings in the first half of this year, riding the wave of a booming stock market.

The first-half operating profit of 42 financial firms totaled 41.1959 trillion won, a 36.07% increase compared to the same period last year. Net income rose 32.82% to 31.9488 trillion won.

Among these, the securities sector recorded the highest growth rates, with operating profit up 163.37% and net profit up 161.00%. The insurance sector also saw operating profit rise 22.90% and net profit increase 27.16%, while financial holding companies reported a 20.89% increase in operating profit.

◇Financial Soundness Also Improved… Proportion of Profitable Companies Expanded

The financial structure of listed companies has also improved. On an individual basis, the debt-to-equity ratio as of the end of June this year stood at 64.62%, down 7.96 percentage points from the end of last year. Total assets rose 16.50% to 3,077.809 trillion won, and total equity increased 22.13% to 1,869.622 trillion won, while total liabilities rose 8.73% to 1,208.187 trillion won.

On a consolidated basis, the debt-to-equity ratio also fell by 9.71 percentage points, from 110.52% at the end of last year to 100.81% at the end of June this year. During the same period, total equity rose by 21.37%, outpacing the 10.71% growth rate of total liabilities.

The number of profitable companies, based on net income, also increased. Among the 720 companies analyzed on a non-consolidated basis, 581 were profitable, accounting for 80.69% of the total—an increase of 11 companies compared to the first half of last year. On a consolidated basis, 519 out of 634 companies posted a profit, bringing the proportion of profitable companies to 81.86%, up 5.36 percentage points from a year ago.

Meanwhile, the Korea Exchange’s analysis of first-half individual financial results covered 720 of the 794 corporations required to submit individual or separate financial statements, excluding 74 companies (13 due to new establishment, spin-offs, or mergers; 13 with an adverse audit (review) opinion; and 48 in the financial sector).

The analysis of consolidated financial results covered 634 of the 699 companies required to submit consolidated financial statements, excluding 65 companies (12 due to new establishment, spin-offs, or mergers; 11 with an adverse audit (review) opinion; and 42 in the financial sector).