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LG Electronics Delivers Q1 Earnings Surprise, Virus Fallout Looms

LG Electronics Delivers Q1 Earnings Surprise, Virus Fallout Looms

SEOUL, April 7 (Korea Bizwire) — LG Electronics Inc. on Tuesday delivered an earnings surprise in the first quarter of the year, apparently aided by solid performance from its home appliance business, but analysts warned that the company could face a severe impact from the novel coronavirus during the current quarter. South Korea’s No. 2 [...]

Samsung Delivers Estimate-beating Q1 Performance, Virus Fallout in Store

Samsung Delivers Estimate-beating Q1 Performance, Virus Fallout in Store

SEOUL, April 7 (Korea Bizwire) — Samsung Electronics Co. on Tuesday delivered better-than-expected first-quarter earnings as robust demand for chips apparently offset a slump in smartphone and home appliance sales amid the novel coronavirus pandemic, but analysts warned that the company may feel the pinch of the COVID-19 outbreak during the current quarter. The South [...]

Imported Car Sales Rise 12 pct in March, Japanese Brands Struggle

Imported Car Sales Rise 12 pct in March, Japanese Brands Struggle

SEOUL, April 3 (Korea Bizwire) – Sales of imported vehicles in South Korea rose 12 percent in March from a year earlier, while Japanese brands continued to struggle with weaker demand due to trade tensions with Seoul, an industry association said Friday. The number of newly registered foreign vehicles rose to 20,304 units last month [...]

Samsung Produces Smartphone Cases with Plastic Waste

Samsung Produces Smartphone Cases with Plastic Waste

SEOUL, March 18 (Korea Bizwire) — Samsung Electronics Co. will manufacture and sell accessories for smartphones and smartwatches with thread made by melting plastic waste. Samsung collaborated with Danish textile company Kvadrat to produce a case for the Galaxy S20 Plus and a strap accessory to the Galaxy Watch Active2, with fibers that recycled plastic [...]

SK Gas Ramps Up Energy Efficiency with AI

SK Gas Ramps Up Energy Efficiency with AI

SEOUL, March 18 (Korea Bizwire) — SK Gas Co., the largest local importer and distributor of liquefied petroleum gas, said Tuesday that it will launch a local artificial intelligence (AI)-based energy efficiency service project in a strategic partnership with a French AI solution company. The service, which will be launched with Metron SAS, a startup [...]

War Against Virus Helps Korean Startups Shine

War Against Virus Helps Korean Startups Shine

SEOUL, March 12 (Korea Bizwire) — While the novel coronavirus outbreak is spreading at a rapid pace in Korea, Korean startup firms are also seeing their own technologies shine. Vodacom, a startup specializing in telecommunication platforms, decided to provide its “Video Help Me” (Videohelp.me) service free of charge until May for public institutions, small and [...]

Sales of SUVs, Gasoline Cars Rise in 2019 Korean Auto Market

Sales of SUVs, Gasoline Cars Rise in 2019 Korean Auto Market

SEOUL, March 10 (Korea Bizwire) — Sales of sport utility vehicles (SUVs) and gasoline-powered vehicles posted solid growth in South Korea last year, industry data showed Tuesday, although the country’s auto market contracted for the second consecutive year. Nearly 1.8 million vehicles were registered in South Korea last year, down 1.8 percent from a year [...]