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 [...]
SEOUL, Oct. 20 (Korea Bizwire) — South Korea’s exports of eco-friendly cars have soared by more than 40 percent on-year in 2019, mainly on the back of the popularity of subcompact SUVs, data showed Sunday. Local carmakers exported a combined 180,933 eco-friendly autos, such as electric vehicles (EVs), during the January-September period, up 41.8 percent [...]
SEOUL, Oct. 18 (Korea Bizwire) — SsangYong Motor Co., the South Korean unit of Indian carmaker Mahindra & Mahindra Ltd., said Friday its net losses widened in the third quarter from a year earlier on weak sales. Net losses for the July-September quarter deepened to 107.9 billion won (US$92 million) from 18.2 billion won a [...]
SEJONG, Oct. 13 (Korea Bizwire) — In-flight duty-free sales rose between June and September this year, data showed Sunday, defying market expectations that they may decline after the opening of on-arrival duty-free shops. South Korea’s first on-arrival duty-free stores opened at Incheon International Airport in late May in a bid to reduce discomfort experienced by [...]
SEOUL, Oct. 8 (Korea Bizwire) — Samsung Electronics Co. said Tuesday its operating earnings plunged 56 percent in the third quarter from a year earlier, mainly hit by continuing falls in global chip prices, but its performance was better than the market had expected. The operating profit was estimated at 7.7 trillion won (US$6.4 billion) [...]
SEOUL, Oct. 6 (Korea Bizwire) — Mercedes-Benz ranked third in September sales after Hyundai Motor Co. and Kia Motors Corp., beating three other domestic carmakers, industry data showed Sunday. The German carmaker sold 7,707 vehicles in the Korean passenger car market last month, a whopping rise from 1,943 units a year earlier, according to data [...]
SEOUL, Oct. 4 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Motors Corp. said Friday their combined sales in China plunged 16 percent in the January-August period amid little sign of a recovery. In the first eight months, Hyundai and Kia sold a total of 555,943 vehicles in China, down from 662,442 units [...]
SEOUL, Sept. 29 (Korea Bizwire) — The combined corporate taxes that will be paid by listed firms of South Korea’s top 10 business conglomerates is set to more than halve, as their profits dropped in the first six months due to slowing exports and weaker demand at home, industry data showed Sunday. According to the [...]
SEOUL, Sept. 29 (Korea Bizwire) — Sales of eco-friendly autos in South Korea surged 22 percent in the first eight months of the year, driven by demand from fuel-conscious consumers and hefty state subsidies, industry data showed Sunday. According to the data compiled by the Korea Automobile Manufacturers Association (KAMA), 69,834 eco-friendly cars were sold [...]