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Our economy is cooling faster than the weather.

The third quarter report cards of major companies, including SK Hynix, were worse than expected, so the word 'earning shock' followed.

Large corporations are also reducing their investment and entering into emergency management.



Reporter Hoon-Kyung Jang reports the first news.



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SK hynix announced that its operating profit in the third quarter was 1.65 trillion won, a drop of more than 60% compared to the previous quarter as well as a year ago.



Usually, the third quarter is a peak season, so performance improves, but he explained why the demand for memory semiconductors is declining to an unprecedented level.



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Semiconductors, which account for 20% of Korea's exports, as well as displays and automobiles, have released report cards that are below market expectations.



The money line is also clogging up quickly.



SK On, the battery company of the SK Group, said it would attract 4 trillion won before going public, but cut its target by half, and it's not even that much.



For the first time since its inception, LG U+ failed to sell all of its corporate bonds, and Hanwha Solutions' corporate bonds also had an interest rate of over 6%, but only some were sold.



[Young-moo Cho / Research Fellow, LG Business Research Institute: Even in the public sector, more and more companies are withdrawing their funding plans as debt repayment is not being done properly.]



Companies are starting to tighten their belts.



Hyundai Motor decided to cut its investment this year by 300 billion won from its original plan, and SK Hynix also announced that it would cut its investment from the late 10 trillion won this year to more than half next year and to the level of the 2008 financial crisis.



[Krishna Srinivasan / IMF Asia Pacific Director (Yesterday): As the volume of imports from China has decreased significantly, the growth engines of neighboring countries such as Japan and Korea are also weakening.

Although Korea's economic growth rate is expected to be 2% next year, there are still many downside risks.]



More and more companies are entering emergency management, such as LG Electronics' plans to build a wartime operation control room from next month.



(Video editing: Yumira)