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NHN building. (Photo = NHN) |
[Alpha Biz= Reporter Kim Sangjin] NHN achieved a record quarterly revenue of 608.4 billion KRW in Q3, yet reported an operating loss of 113.4 billion KRW due to unrecovered receivables from Tmon and Wemep amid the "Temeph crisis."
NHN announced these Q3 financial results on the 12th. The record revenue was driven by steady growth across its main sectors, including payments, advertising, technology, and gaming.
However, the operating loss was attributed to a one-time write-off of bad debt expenses from uncollected receivables tied to the Temeph issue. Excluding this one-time expense, NHN’s Q3 operating profit would have been 27.3 billion KRW, reflecting a 16.8% increase compared to the previous year.
NHN had been providing a payment system to Tmon through its NHN KCP service, but Tmon’s financial troubles prevented timely payments to NHN. The uncollected receivables were thus recorded as expenses, leading to a substantial operating loss.
AlphaBIZ Kim SangJin(letyou@alphabiz.co.kr)
