Seoul: Korea Gas Corp. (KOGAS), South Korea's state-run gas utility, announced a significant increase in its first-quarter net profit, reporting 548.3 billion won (US$366.7 million), marking a 49.3 percent rise from the same period last year.

According to Yonhap News Agency, the energy company disclosed in a regulatory filing that its operating profit for the quarter was 910 billion won, an increase from 833.9 billion won in the previous year. However, the company's revenue declined by 7.3 percent, totaling 11.8 trillion won for the quarter.