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Plunging corporate profits

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Time to streamline the labor market, boost investment and remove red tape

Korea's top 10 conglomerates suffered a sharp decline in profitability in the first half of this year. According to a report released by Infobigs, a data provider specializing in big business groups, the combined operating profit of 90 listed affiliates of the top 10 chaebol amounted to 21.3 trillion won ($17.6 billion) in the January-June period, down 54 percent from 45.8 billion won a year earlier.

In the second quarter alone, their combined operating........

© The Korea Times