ANSAN, KOREA – Korea Circuit announced a 5.6% year-over-year increase in annual sales, totaling KRW1.4 trillion ($964.7 million).

The company recorded a consolidated net loss of KRW121.7 billion ($83.9 million) for the year, quadrupling the size of the deficit from the previous year.

"The net loss increased by more than 30% due to impairment losses on tangible assets following the review of damage to the unit of cash generation (CGU) in accordance with the Korean International Financial Reporting Standards (K-IFRS)," the company said.