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S. Korean Tech Giants Tipped to Enjoy Rosy Q3 Earnings Despite Pandemic

S. Korean Tech Giants Tipped to Enjoy Rosy Q3 Earnings Despite Pandemic

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 [...]

KT Q2 Net Up on Reduced Costs, Robust Non-mobile Biz

KT Q2 Net Up on Reduced Costs, Robust Non-mobile Biz

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 [...]

LG Uplus Snubs Huawei-related Security Risks, Q2 Net Sharply Up

LG Uplus Snubs Huawei-related Security Risks, Q2 Net Sharply Up

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 [...]

Kakao’s Q2 Net Jumps Nearly 5 Times on Robust Platform, E-commerce Businesses

Kakao’s Q2 Net Jumps Nearly 5 Times on Robust Platform, E-commerce Businesses

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 [...]

SK Telecom Q2 Net Surges on Increased Equity Gains, Rise in 5G Users

SK Telecom Q2 Net Surges on Increased Equity Gains, Rise in 5G Users

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 [...]