팔도, 러시아 의존 넘을까…글로벌 확장 속 배당·투자 ‘두 토끼’

Palado is caught between declining domestic operations and expanding financial commitments as it attempts to reduce Russian market dependence. While core business deteriorated sharply in 2025—revenue down 10%, operating profit down 94%—the company maintains profitability through equity-method earnings from its Russian subsidiary, masking a structural weakness. This gap between weakening fundamentals and simultaneous dividend payouts and international investments in Japan, US, and Singapore raises critical questions about capital allocation priorities and financial sustainability.