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SK to Develop International Standards to Measure Social Value in 3 Years

SK to Develop International Standards to Measure Social Value in 3 Years

SEOUL, Aug. 16 (Korea Bizwire) — SK Group has decided to work with other global corporations over the next three years to build international standards to measure the ‘social value’ generated by businesses. SK announced that the Value Balancing Alliance (VBA), a non-profit organization in Frankfurt, Germany, will begin carrying out the task of jointly [...]

Samsung Again Backtracks in China’s Smartphone Market in Q2

Samsung Again Backtracks in China’s Smartphone Market in Q2

SEOUL, Aug. 6 (Korea Bizwire) — Samsung Electronics Co. saw its share in China’s smartphone market fall back below 1 percent in the second quarter as Chinese consumers bought more domestic brands, industry data showed Tuesday. Samsung Electronics shipped 700,000 smartphones to China in the April-June period, accounting for a mere 0.7 percent of the [...]

SK Telecom Q2 Operating Profits Slip 7 pct on 5G Spending

SK Telecom Q2 Operating Profits Slip 7 pct on 5G Spending

SEOUL, Aug. 2 (Korea Bizwire) — SK Telecom Co. said Friday its operating profit fell due to increased spending for 5G service marketing and infrastructure buildup. Its operating earnings came to 322.8 billion won (US$270.7 million) in the April-June period, a 6.9-percent fall from a year ago, the nation’s leading mobile carrier said in a [...]

Traditional Cigarettes Increasingly Replaced by E-cigarettes

Traditional Cigarettes Increasingly Replaced by E-cigarettes

SEOUL, Aug. 1 (Korea Bizwire) — The popularity of traditional cigarettes is waning, as e-cigarettes have seen a significant boost in sales this year. The Ministry of Economy and Finance reported that cigarette sales reached 1.67 billion packs between January and June this year, which was a 0.6 percent decrease from last year. Among them, [...]

Samsung Q2 Net Tumbles on Weak Chip Prices, Japan’s Curbs Cloud Outlook

Samsung Q2 Net Tumbles on Weak Chip Prices, Japan’s Curbs Cloud Outlook

SEOUL, Jul. 31 (Korea Bizwire) — Samsung Electronics Co. said Wednesday its second-quarter net profit more than halved from a year earlier on weak chip prices and tepid smartphone sales, warning Japan’s export curbs cloud its business outlook. The net profit for the world’s largest chip and smartphone maker came to 5.18 trillion won (US$4.4 [...]

SK hynix to Cut Memory Output on Weak Q2 Earnings, Readies for Japan’s Export Curbs

SK hynix to Cut Memory Output on Weak Q2 Earnings, Readies for Japan’s Export Curbs

SEOUL, Jul. 25 (Korea Bizwire) — SK hynix Inc. on Thursday reported dismal second-quarter earnings on lower memory chip prices, saying it will cut output to respond to challenging market conditions and uncertainties from trade disputes between South Korea and Japan. Net profit for the world’s No. 2 memory chip maker came to 537 billion [...]