Photo credit: Korea Gas Corporation

 

[Alpha Biz= Reporter Kim Minyoung] Korea Gas Corporation (KOGAS) reported that its accounts receivable from the private sector rose to 13.7 trillion won in the second quarter of this year. This marks an increase of 2 trillion won compared to the previous quarter.

On September 9, KOGAS announced that for Q2, its revenue was 7.4899 trillion won and its operating profit was 465.7 billion won. While revenue decreased by 7.8% compared to the same period last year, operating profit increased by over 127%. The net income for the quarter was 253.3 billion won.

The significant rise in operating profit for Q2 was influenced by a base effect. Last year, one-time costs related to the cost of natural gas for different uses impacted the financials, but these factors have since been resolved, contributing to the increase in operating profit.

However, the accounts receivable from the private sector grew by an additional 2 trillion won compared to the previous quarter, reaching 13.7 trillion won. This receivable represents unpaid sales amounts from natural gas imports and is essentially considered a form of debt.

 

 

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