SEOUL, Feb. 10 (Korea Bizwire) — South Korea’s major electric vehicle (EV) battery producers increased their market share in 2019 from a year earlier in line with increased global EV battery use, industry data showed Monday. Based on the global usage of their EV batteries, the combined market share of three South Korean EV battery [...]
SEOUL, Feb. 10 (Korea Bizwire) — South Korea’s electronics companies are set to resume their plant operations in China, industry officials said Monday, following an extended Lunar New Year holiday amid the spread of the novel coronavirus in the world’s No. 2 economy. The companies said they plan to resume production Monday, although some manufacturing [...]
SEOUL, Feb. 9 (Korea Bizwire) — SK Lubricants Co., an affiliate of refiner SK Innovation Co., said Sunday it has made a stake investment in a Vietnamese lubricants company for an expansion into Asian markets. SK Lubricants signed a deal to acquire a 49 percent stake in Mekong, Vietnam’s biggest lubricants company, on Friday to [...]
SEOUL, Feb. 9 (Korea Bizwire) — Samsung Group’s affiliates will extend 2.6 trillion won (US$2.2 billion) in financial support to their subcontractors to help them weather the fast-spreading coronavirus, the group said Sunday. Samsung Electronics Co., Samsung Display Co. and Samsung Electro-Mechanics will jointly extend 1 trillion won worth of loans at zero or low [...]
SEOUL, Feb. 5 (Korea Bizwire) — The spread of coronavirus in China is likely to push up prices of semiconductors and display panels, analysts said Wednesday, amid possible supply chain disruptions of key industrial materials. China, where the outbreak originated, is home to manufacturing facilities of many of South Korea’s major tech firms, including Samsung [...]
SEOUL, Feb. 3 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemicals firm, said Monday that it swung to a loss in the fourth quarter from a year earlier due to one-off costs related to energy storage systems (ESS). The net loss stood at 56.8 billion won (US$47.5 million) in the three months that [...]
SEOUL, Feb. 2 (Korea Bizwire) — The new coronavirus-triggered angst appears to be spilling over to the Korean corporate realm as the global supply chain is feared to face some disruptions amid the rapid spread of the novel coronavirus in China, industry watchers said Sunday. With the new coronavirus killing more than 300 people in [...]
SEOUL, Jan. 31 (Korea Bizwire) — POSCO, the world’s fifth-biggest steelmaker by output, said Friday its net profit rose 4.8 percent last year helped by increased gains from equity ties with its affiliates and firm demand for its key products. For the whole of 2019, net profit climbed to 1.98 trillion won (US$1.66 billion) from [...]
SEOUL, Jan. 31 (Korea Bizwire) — South Korean manufacturers, led by carmakers, appear to be beginning to feel the pinch of the rapid spread of the new coronavirus, with possible disruption to production and plant operations around the corner, industry sources said Friday. Hyundai Motor Co. and other major manufacturers have been operating plants in [...]
SEOUL, Jan. 31 (Korea Bizwire) — LG Display Co., South Korea’s major display panel maker, said Friday it swung to a loss in the fourth quarter from a year earlier due to asset impairments and increased costs. LG Display reported a fourth-quarter net loss of 1.81 trillion won (US$1.5 billion) in a regulatory filing, shifting [...]