SEOUL, Dec. 15 (Korea Bizwire) — The demand for luxury cars in South Korea increased sharply in 2019 from a year earlier, data showed Sunday, despite the overall decrease in the sales of imported cars here. Sales of imported luxury cars with price tags of 300 million won (US$255,972) or higher reached 360 units over [...]
SEOUL, Nov. 4 (Korea Bizwire) — Major South Korean listed firms are expected to see their profitability turn for the better in 2020 on a rebound in global chip demand and low material costs, a market tracker said Monday. The combined operating profit of 279 listed companies is forecast to reach 165.8 trillion won (US$142 [...]
SEOUL, Nov. 1 (Korea Bizwire) — LG Uplus Corp., South Korea’s No. 3 mobile carrier, said Friday its net profit dropped 32.1 percent in the third quarter from a year earlier due to increased spending for 5G infrastructure buildup and marketing. Net profit stood at 104.5 billion won (US$89.5 million) in the July-September period, compared [...]
SEOUL, Oct. 31 (Korea Bizwire) — SK Telecom Co. said Thursday its third-quarter net income plunged due to equity losses of its chip-making subsidiary, while its operating profit remained mostly unchanged from the previous year. Its net income tumbled 73.9 percent to 274.4 billion won (US$236 million) in the July-September period compared with a year [...]
SEOUL, Oct. 31 (Korea Bizwire) — Samsung Electronics Co. said Thursday its net profit more than halved in the third quarter from a year earlier due to weak memory chip prices, but it projects upbeat prospects for the chip market next year. The net profit of the world’s largest memory chip and smartphone maker tumbled [...]
SEOUL, Oct. 30 (Korea Bizwire) — LG Electronics Inc. said Wednesday its third-quarter net profit dropped 30.5 percent from a year earlier due to its lackluster mobile business. The South Korean electronics maker said its net earnings stood at 345.7 billion won (US$296 million) in the July-September period, compared with 497.1 billion won a year [...]
SEOUL, Oct. 24 (Korea Bizwire) — Hyundai Motor Co. and Kia Motors Corp., South Korea’s two biggest carmakers, are on track to achieve their annual sales targets after reporting solid third-quarter figures on a weak won and robust sales of sport-utility vehicles. Hyundai Motor and Kia Motors, which together form the world’s fifth-biggest carmaker by [...]
SEOUL, Oct. 24 (Korea Bizwire) — POSCO, South Korea’s top steelmaker, said Thursday its third-quarter net profit dropped 53 percent from a year earlier, hit by high raw material costs. Net profit reached 496.8 billion won (US$424 million) in the July-September period on a consolidated basis, compared with a profit of 1.05 trillion won a [...]
SEOUL, Oct. 24 (Korea Bizwire) — SK hynix Inc. said Thursday its net profit for the third quarter dipped to the lowest level in more than three years on weak memory chip prices and global demand, but said it expected the memory industry to recover next year on adoption of 5G smartphones. The net profit [...]
SEOUL, Oct. 23 (Korea Bizwire) — South Korean display maker LG Display Co. said Wednesday it turned to a net loss in the third quarter due to low LCD panel prices and weak global demand. LG Display logged 442.2 billion won (US$377.1 million) in net loss for the July-September period, compared with 17.5 billion won [...]