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S. Korea’s Three Major Multiplexes Post Nearly 70 pct Sales Plunge in 2020

S. Korea’s Three Major Multiplexes Post Nearly 70 pct Sales Plunge in 2020

SEOUL, Feb. 18 (Korea Bizwire) – South Korea’s three major multiplex chain operators have seen their respective 2020 sales plunge nearly 70 percent from a year earlier due to the fallout of the yearlong novel coronavirus pandemic, data showed Thursday. Industry leader CJ CGV, the cinema affiliate under the wing of entertainment giant CJ Group, [...]

Asiana 2020 Net Losses Narrow on Self-help Efforts

Asiana 2020 Net Losses Narrow on Self-help Efforts

SEOUL, Feb. 16 (Korea Bizwire) — Asiana Airlines Inc., South Korea’s second-biggest airline by sales, said Tuesday its net losses narrowed in 2020 from a year earlier on cost cuts and other self-help measures. Net losses narrowed to 404.51 billion won (US$367 million) last year from 817.89 billion won the previous year as the company [...]

Kia to Invest 29 tln Won in Future Mobility, Others by 2025

Kia to Invest 29 tln Won in Future Mobility, Others by 2025

SEOUL, Feb. 9 (Korea Bizwire) — Kia Corp., South Korea’s second-biggest carmaker by sales, said Tuesday it will invest 29 trillion won (US$26 billion) in car manufacturing facilities and future mobility technologies by 2025. Kia will spend 18.8 trillion won on enhancing profitability in the existing car manufacturing business and 10.1 trillion won on generating [...]

Korean Air Net Losses Narrow in 2020 Despite Pandemic

Korean Air Net Losses Narrow in 2020 Despite Pandemic

SEOUL, Feb. 4 (Korea Bizwire) — Korean Air Lines Co., South Korea’s biggest carrier, said Thursday its net losses narrowed in 2020 from a year earlier, as it offset the pandemic-caused slump in passenger travel with increased cargo deliveries and enjoyed decent gains from an asset sale. Net losses narrowed to 291.45 billion won (US$260 [...]

SK Telecom Swings to Black in Q4 on Growing 5G Users, Equity Gains

SK Telecom Swings to Black in Q4 on Growing 5G Users, Equity Gains

SEOUL, Feb. 3 (Korea Bizwire) — SK Telecom Co., South Korea’s largest mobile carrier, said Wednesday it shifted to a net profit in the final quarter last year on the back of growing users on the 5G network and increased equity gains. Net income stood at 371 billion won (US$333 million) in the October-December period, [...]