Over 50 pct of S. Korea's CEOs gloomy on first-half earnings: poll

More than half of South Korea's top executives believe their earnings in the first half of this year may have fell short of targets mainly due to sluggish domestic consumption, according to a poll released Sunday by a leading private think tank.

The survey, conducted by Samsung Economic Research Institute among 300 top executives, revealed 53.3 percent predicted sluggish earnings for the January-June period, while only 11 percent of those surveyed forecast higher-than-expected earnings and the remainder said earnings would likely meet targets.

The executives attributed the weak earnings expectations to a slump in domestic consumption, intensified competition, the won's gain against the dollar and oil and raw material price hikes.

For the second half of the year, only 9 percent of those surveyed projected improved earnings compared with the first half.

The remainder had similar or worse earnings outlooks for the July-December period.

Seoul, July 2 (Yonhap News)