SEOUL, Sept. 20 (Korea Bizwire) — South Korean biopharmaceutical maker Samsung BioLogics Co. has overhauled Swiss drug behemoth Lonza in terms of market value though its sales remain dwarfed by the latter’s top line, industry sources said Wednesday. The market capitalization of Samsung BioLogics, a unit of South Korea’s top conglomerate Samsung Group, came to [...]
SEOUL, Sept 19 (Korea Bizwire) — Hyundai Merchant Marine Co., South Korea’s top shipping firm, is seeing its business performance improve sharply on the back of reduced costs and increased profit, its chief said Tuesday. “Compared to last year, our performance is improving significantly, based on a virtuous cycle of reduced costs and expanded profit,” [...]
SEOUL, Sept. 19 (Korea Bizwire) — Sales of China’s Tsingtao beer have risen sharply in South Korea in recent months despite South Korean firms being hit by Beijing’s retaliation against Seoul for the deployment of a U.S. missile defense system on its soil, industry sources said Tuesday. Beijing insists the installation of the Terminal Altitude [...]
SEOUL, Sept. 18 (Korea Bizwire) — South Korea’s top two chipmakers — Samsung Electronics Co. and SK hynix Inc. — are set to see their combined annual sales exceed 100 trillion won (US$88.3 billion) this year on the back of an industry boom, industry sources said Monday. The outlook came as Samsung and SK hynix, [...]
SEOUL, Sept. 12 (Korea Bizwire) — Operating profits of Starbucks Coffee Korea are expected to exceed 100 billion won (US$88.4 million) this year amid growing popularity of the U.S. coffeehouse chain here, industry sources said Tuesday. The 50-50 joint venture between retail conglomerate Shinsegae and the U.S. coffee giant posted 52.8 billion won in operating [...]
SEOUL, Sept. 5 (Korea Bizwire) — South Korea’s ice cream sales have declined in the past few years in the face of fewer children and the growing popularity of alternatives, such as ice coffee and shaved ice, a report said Tuesday. Per capita annual consumption of ice cream fell to 58 servings in 2015 from [...]
SEOUL, Sept. 4 (Korea Bizwire) — Asiana Airlines Inc., South Korea’s second-biggest passenger carrier, is struggling to improve its business amid an ongoing diplomatic row over the deployment of a missile defense system here and increased competition with budget carriers, industry sources said Monday. Under its three-year restructuring plan that ends in December 2018, Asiana [...]
SEOUL, Aug. 24 (Korea Bizwire) — South Korea’s top 30 conglomerates have seen their sales growth and profitability worsen over the past six years amid increased costs, a report showed Thursday. Per capita sales of 164 listed companies belonging to the leading business groups fell at an annual average rate of 1.8 percent between 2011 [...]
SEOUL, Aug. 23 (Korea Bizwire) — Asiana Airlines Inc. said Wednesday it will concentrate on the special cargo business that has been bringing in high profits on increasing demand. The air carrier transported 12 percent more premium freight in the first half of this year compared with the same period last year, according to company [...]
SEOUL, Aug. 7 (Korea Bizwire) — South Korea emerged as the world’s fifth-largest market for the German luxury auto brand Mercedes-Benz in the first half of the year thanks to its high popularity among local motorists, data showed Monday. Mercedes-Benz sold 37,723 vehicles in South Korea in the January-June period, up a whopping 54 percent [...]