Seoul: Four major conglomerates saw their combined operating profit plunge 65 per cent last year, hit by sluggish sales amid an economic slowdown, a report showed on Wednesday. Some 306 affiliates of four conglomerates — Samsung, SK, Hyundai Motor and LG — posted a combined operating profit of 24.51 trillion won ($17.9 billion) in 2023, down from 71.91 trillion won a year earlier, according to the report by the Korea CXO Institute, a corporate data firm. Samsung Group, the country’s biggest conglomerate, suffered the biggest profit decline last year due to a poor performance by its core affiliate Samsung Electronics, reports Yonhap news agency. The group’s 59 affiliates suffered a whopping
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