FOREWORD

          Financial Statement Analysis (FSA), published annually by the Bank of Korea since
1960, describes the details of the business performance and financial conditions of Korean corporations.

          This edition covers Korean corporations’ balance sheets, income statements, and
statements of cash flows, as well as key indicators concerning their financial stability,
profitability and growth for 2010, classified by industry. Small-scale companies in terms
of turnover are included in the population to provide a more comprehensive grasp of
corporations’ performance.

          For the convenience of users, the full text of this edition and related data files are also available on the Bank of Korea’s Economic Statistics System web-site (ECOS,
http://ecos.bok.or.kr ). Meanwhile, as the accounting environment is expected to change significantly due to the introduction in Korea of the International Financial Reporting Standards (IFRS) from 2011 financial year, there will be many changes in the method of compiling financial statement analysis statistics. In this regard, comments and suggestions from users will be greatly welcomed.

          We hope that this book will be helpful to companies in framing their business strategies, to the government sector in drawing up economic policies, and to financial institutions in assessing credit risk. Finally, we wish to express our sincere appreciation to all the corporations surveyed and to those institutions whose efforts have helped to make this work possible.

July 2011

                                                    Young Bae Kim
                                                      Director General
                                                                      Economic Statistics Dept.
                                                          The Bank of Korea