Moorim Paper swings to net loss in H1 after antitrust fine
Moorim Paper's consolidated H1 2026 revenue rose 4.16% to USD 476m (KRW 645.0bn) and operating profit rose 88.59% to USD 20.7m (KRW 28.1bn), but the group swung to a net loss of USD 48.6m (KRW 65.9bn) after booking an antitrust fine. South Korea's Fair Trade Commission in April fined six printing-paper producers a combined USD 249.7m (KRW 338.3bn) for coordinating prices and ordered them to reset prices independently; subsidiary Moorim P&P was fined USD 42.4m (KRW 57.5bn), more than double the USD 21.1m (KRW 28.6bn) imposed on Moorim Paper. The three Moorim companies have asked the courts to suspend enforcement, and the stay of the re-pricing order has been granted.
Why this mattersA large sector-wide antitrust fine and a falling pulp price squeeze show how regulatory and raw-material risk can outweigh operating gains at vertically integrated paper producers.
- H1 2026 consolidated revenue rose 4.16% to USD 476m (KRW 645.0bn); operating profit rose 88.59% to USD 20.7m (KRW 28.1bn).
- Net result swung to a loss of USD 48.6m (KRW 65.9bn) from a USD 2.5m (KRW 3.4bn) profit a year earlier after the fine was booked.
- Korea's Fair Trade Commission fined six printing-paper producers a combined USD 249.7m (KRW 338.3bn) in April and ordered independent re-pricing.
- Moorim P&P was fined USD 42.4m (KRW 57.5bn), more than double the USD 21.1m (KRW 28.6bn) imposed on Moorim Paper.
- Moorim P&P's H1 revenue rose 15.44% to USD 290.8m (KRW 394.0bn), while its operating loss widened to USD 8.0m (KRW 10.8bn) from USD 7.6m (KRW 10.3bn).
- US southern hardwood kraft pulp averaged USD 735 per tonne this month, down from USD 780 in June.