Costco Korea to receive 150 billion won in dividends this year..."67% of net income for the current period"

Costco has set aside more than half of its net profit in South Korea this year as dividends from its U.S. headquarters amid a strong warehouse-type discount store in the aftermath of high prices.

According to the Financial Supervisory Service's electronic disclosure system, Costco Korea's operating profit, a U.S. discount store, was 218.6 billion won from September last year to August this year, up 15% from a year ago.

During the same period, sales increased 7.6% to KRW 6.5 trillion, and net profit surged 58% to KRW 224 billion.

Costco Korea said in a regulatory filing that it has set the dividend for this year at 150 billion won, or 67 percent of its net profit.

Costco Korea, which operates 19 stores across the country, is 100% owned by Costco Wholesale International of the United States, so all dividends go to the U.S. headquarters.

Costco previously drew attention by paying 200 billion won in dividends to its U.S. headquarters, exceeding net profit in the last fiscal year.