Seoul: South Korean listed firms reported record earnings during the first nine months of 2024 on strong demand for semiconductors and a global economic recovery, data from the bourse operator showed Monday. The combined operating profit of 614 companies listed on the benchmark Korea Composite Stock Price Index (KOSPI) surged 64.5 percent on-year to 155.65 trillion won (US$111.5 billion) in the January-September period, according to the data compiled by the Korea Exchange and the Korea Listed Companies Association. According to Yonhap News Agency, this year's figure marked an all-time high for the first nine months of a year. Their sales rose 4.9 percent on-year to 2,241.46 trillion won, and net profit spiked 71.2 percent to 119.12 trillion won combined, the data showed. Excluding top-cap Samsung Electronics Co., the listed firms saw sales grow 3.6 percent, while their operating profits and net jumped 42.4 percent and 52.9 percent, respectively. Of the total, 495 firms, or 80.62 percent, were in the black. B y sector, electric and electronic companies and carmakers showed solid performances, which offset losses by steel and chemical firms. Experts say the increase in corporate profits was driven mainly by a recovery of the global economy and an upcycle of the semiconductor industry leading to South Korea's strong exports. But the growth momentum has weakened since the third quarter, and such a trend is projected to continue through next year given the weak demand for chips and renewable batteries, among other items, as well as market uncertainties, they added. "There is a possibility of corporate earnings going up next year, but the growth is expected to be very gradual," said Lee Jin-woo, an expert from Meritz Securities Co.