IPark Hyundai Development posts strongest profit in five years

IPark Hyundai Development Co., the builder behind the IPark apartment brand, posted its strongest quarterly operating profit in five years, as higher-margin housing projects lifted earnings despite elevated construction costs. The company said Monday that consolidated operating profit reached 122.7 billion won ($89.4 million) in the second quarter, up 52.9 percent from a year earlier and 53.1 percent from the previous quarter. Revenue rose 35.7 percent on-quarter to 914.6 billion won, while net