Top players in key Korean stock categories came out of the COVID-19 storm unscathed in the second quarter, whereas most in the pack suffered, data suggested.

LG Household & Health Care Ltd, the country’s largest beauty and personal care company, saw operating profit gain 0.6 percent on year to 303.3 billion won (25.6 million) on revenue of 1.8 trillion won in the April-June quarter this year. No 2. Amorepacific Corp. reported 60 percent plunge in operating income to 35.2 billion won and 24.2 percent loss in revenue to 1.06 trillion won.

A year ago, Amorepacific closely chased LG with revenues slightly apart by around 300 billion won.

The front-runner’s lead became more decisive across the board including battery, game and semiconductor, according to a study on second-quarter earnings results compiled by local financial market data provider FnGuide.

There has been a sign of industry leader hogging the market even before COVID-19 crisis but the trend has grown worse, said Jung Yong-taek, head of IBK Investment & Securities research center. Big players have weathered economic challenges well on ample reserves and further widened gap against others, Kim Hak-gyun, Shingyoung Securities research center director explained.

According to FnGuide, the combined operating profit of 98 publicly trading companies in Korea is estimated at 19.6 trillion won for the second quarter to make up 82.3 percent of total market cap. The sum is up 9.6 percent compared to earlier market estimate of 17.9 trillion won.

On Wednesday, the main Kospi bourse gained 1.4 percent and closed at 2,311.98. It is the first time for the index to go above 2,300 since Oct. 2, 2018.

By Kim Gyu-sik, Kim Jung-beom, and Cho Jeehyun

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]