www.pcimag.com/articles/113336-songwon-reports-2024-financial-growth-amid-market-challenges
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Image courtesy of SONGWON. 

SONGWON Reports 2024 Financial Growth

March 6, 2025

SONGWON Industrial Group reported FY2024 sales of 1,070,200 million KRW, a 3.9% increase over 2023, with a net profit of 45,088 million KRW, up 29.4%. Despite global economic challenges, supply chain issues and geopolitical instability, the company maintained a gross profit margin of 16.5%, exceeding its 2023 performance.

Key division highlights:

  • Industrial Chemicals: 4.3% sales growth, driven by polymer stabilizers and coatings.
  • Performance Chemicals: 2.7% revenue increase, supported by strong tin intermediates and TPU demand.

Looking ahead, SONGWON anticipates continued political and economic uncertainty but remains focused on operational efficiencies and sustainable growth.

Read the full Q4 2024 financial report here.