SEOUL, Sept. 20 (Korea Bizwire) — South Korea’s major tech giants are anticipated to enjoy better-than-expected earnings during the third quarter, a poll showed Sunday, as they were able to save costs amid the global new coronavirus pandemic. Samsung Electronics Co. is expected to post an operating profit of 10.3 trillion won (US$8.85 billion) in [...]
SEOUL, Sept. 3 (Korea Bizwire) — Sales of imported vehicles in South Korea jumped 21 percent in August from a year earlier due to strong demand for German cars, an industry association said Thursday. The number of newly registered foreign vehicles rose to 21,894 units last month from 18,122 a year earlier, the Korea Automobile [...]
SEOUL, Aug. 20 (Korea Bizwire) — Sales of instant noodles in South Korea soared to a fresh all-time high in the first half of the year due to the coronavirus outbreak, data showed Thursday. Local shipments of instant noodles, or “ramyeon” in Korean, came to 1.13 trillion won (US$950 million) in the January-June period, up [...]
SEOUL, Aug. 13 (Korea Bizwire) — Starbucks Korea on Thursday reported a 52 percent on-year jump in second-quarter net profit on increased non-contact orders and the opening of new outlets. Net profit for the second quarter jumped to 46.2 billion won (US$39 million) from 30.3 billion won a year ago, according to second-quarter earnings results [...]
SEOUL, Aug. 7 (Korea Bizwire) — Celltrion Inc., a major South Korean biopharmaceutical firm, said Friday that its net profit jumped 77 percent on-year in the second quarter on the back of robust sales of its blockbuster biosimilar, Truxima. Net profit came to 138.6 billion won (US$117 million) during the April-June period on a consolidated [...]
SEOUL, Aug. 7 (Korea Bizwire) — South Korean telecom giant KT Corp. said Friday its second-quarter net income rose 2.2 percent from the previous year on the back of reduced costs amid the pandemic and growing demand for its non-mobile services. Net income reached 207.6 billion won (US$174.7 million) in the April-June period, compared with [...]
SEOUL, Aug. 7 (Korea Bizwire) — LG Uplus Corp., South Korea’s No. 3 mobile carrier, said Friday its 5G equipment from China’s Huawei Technologies Co. does not pose security risks, downplaying U.S. concerns that they can be used for espionage by China. Last month, Robert Strayer, the U.S. deputy assistant secretary of state for cyber [...]
SEOUL, Aug. 6 (Korea Bizwire) — Korean Air Lines Co. said Thursday it shifted to a net profit in the second quarter from a year earlier helped by strong cargo demand despite the new coronavirus outbreak. The country’s biggest carrier swung to a net profit of 162.4 billion won (US$137 million) in the April-June quarter [...]
SEOUL, Aug. 6 (Korea Bizwire) — Kakao Corp., the operator of South Korea’s top mobile messenger KakaoTalk, said Thursday its second-quarter net profit jumped nearly five times from a year earlier on the back of robust growth of its e-commerce and contents services based on its messenger platform. Net profit reached 145.2 billion won (US$122.2 [...]
SEOUL, Aug. 6 (Korea Bizwire) — SK Telecom Co., South Korea’s top mobile carrier, said Thursday its second-quarter net income jumped 66.8 percent from a year earlier due to increased equity gains and improved mobile business. Net income reached 432.2 billion won (US$365.1 million) in the April-June period, compared with 259.1 billion won the previous [...]