Seoul: HD Korea Shipbuilding and Offshore Engineering Co. said Thursday that its net profit soared nearly tenfold in 2024 to 1.45 trillion won (US$1 billion) from a year earlier. The significant increase highlights the company's strong financial performance over the past year.

According to Yonhap News Agency, the company reported an operating profit of 1.43 trillion won for the year, marking a 408 percent increase on-year. This substantial growth in operating profit is a key contributor to the overall rise in net profit. Additionally, HD Korea Shipbuilding's annual sales climbed 19.9 percent to 25.53 trillion won, indicating robust demand and successful business operations.