SEOUL, July 7 (Korea Bizwire) – LG Electronics Inc. on Tuesday delivered market estimate-beating second-quarter earnings as its home appliance business apparently performed better than expected amid the novel coronavirus pandemic. In its earnings guidance, South Korea’s No. 2 electronics firm estimated its operating profit to be 493.1 billion won (US$412 million) for the April-June [...]
SEOUL, July 7 (Korea Bizwire) – Samsung Electronics Co. on Tuesday expected a stronger than expected second-quarter performance as solid demand for server chips appeared to offset a slump in smartphone sales amid the novel coronavirus pandemic, while one-time gains in the display business also helped push up its bottom line. In its earnings guidance, [...]
SEOUL, July 3 (Korea Bizwire) – Tesla Motors Inc. said Friday it posted explosive sales growth in South Korea this year on the back of growing appetite for electric vehicles and fat subsidies. Tesla sold a total of 7,079 vehicles in the Korean imported passenger car market from January to June, a whopping increase from [...]
SEOUL, May 26 (Korea Bizewire) — Samsung Electronics Co.’s smartphone shipments plunged 18 percent on-year in the first quarter of the year amid the novel coronavirus pandemic, a report showed Tuesday, although it remained the top smartphone vendor around the globe. The South Korean tech firm shipped 59 million smartphones in the January-March period, down [...]
SEOUL, May 25 (Korea Bizwire) — Sales of imported commercial vehicles in South Korea sank 31 percent last month from a year earlier on an economic slowdown, an industry association said Monday. The number of newly registered imported commercial vehicles fell to 363 units in April from 526 a year ago, according to the Korea [...]
SEOUL, May 19 (Korea Bizwire) — South Korean listed companies’ profits almost halved in the first quarter of the year, data showed Tuesday, an apparent fallout from the new coronavirus outbreak. The combined net profit of 592 nonfinancial companies listed on the main bourse came to 11.03 trillion won (US$8.99 billion) in the January-March period, [...]
SEOUL, May 7 (Korea Bizwire) — SK Telecom Co., South Korea’s top mobile carrier, said Thursday its net income dropped 17.9 percent from a year earlier due to reduced equity gains and investments related to its 5G service. In a regulatory filing, SK Telecom reported a net income of 306.8 billion won (US$250 million) in [...]
SEOUL, May 7 (Korea Bizwire) — Kakao Corp., the operator of South Korea’s top mobile messenger KakaoTalk, said Thursday its first-quarter net profit jumped nearly four times from a year earlier on the back of robust growth of its e-commerce services based on its messenger platform. Net profit reached 79.9 billion won (US$65.4 million) in [...]
SEOUL, May 6 (Korea Bizwire) — South Korea’s top internet-only lender Kakao Bank said Wednesday its first-quarter net profit nearly tripled due mainly to increased interest income. Net profit came to 18.5 billion won (US$15.2 million) in the January-March period, up about 181 percent from a year earlier, the lender said in a regulatory filing. [...]
SEOUL, May 3 (Korea Bizwire) — South Korean major oil refiners suffered one of their worst quarters in the January-March period, data showed Sunday, as global oil output has far outpaced demand amid the new coronavirus pandemic. S-Oil Corp., the no. 3 oil refiner in South Korea, swung to a record loss of 1 trillion [...]