S1 (012750.KS) Q1 2026: 62% Profit Drop on Pension Cost Surge
Revenue held flat while a retirement benefit charge that nearly tripled year-over-year wiped out five percentage points of operating margin, exposing S1's structural vulnerability to labor cost inflation in a headcount-intensive service model.
Source: Quarterly Report (Q1 2026) — Filed May 2026 with DART | Consolidated Financial Statements | Unit: ₩ billions
