On Friday, SEOUL-based Hotel Shilla Co. announced a net loss of 3.3 billion won (US$2.4 million) for the third quarter, a dramatic shift from the 14 billion won profit it had posted in the same period the previous year.
The company revealed in a regulatory filing that operating income for the July-September period had plummeted 71 percent year-on-year to 7.7 billion won, while revenue had decreased 25.7 percent to 1.01 trillion won.
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