SEOUL, April 3 (Korea Bizwire) – Sales of imported vehicles in South Korea rose 12 percent in March from a year earlier, while Japanese brands continued to struggle with weaker demand due to trade tensions with Seoul, an industry association said Friday. The number of newly registered foreign vehicles rose to 20,304 units last month [...]
SEOUL, March 20 (Korea Bizwire) — Woowa Brothers Corp., South Korea’s top food delivery app operator, said Friday it swung to an operating loss in 2019 despite a jump in sales. Its operating losses stood at 36.4 billion won (US$29.2 million) last year, a sharp turnaround from operating gains of 52.5 billion won a year [...]
SEOUL, March 10 (Korea Bizwire) — Sales of sport utility vehicles (SUVs) and gasoline-powered vehicles posted solid growth in South Korea last year, industry data showed Tuesday, although the country’s auto market contracted for the second consecutive year. Nearly 1.8 million vehicles were registered in South Korea last year, down 1.8 percent from a year [...]
SEOUL, March 4 (Korea Bizwire) — Sales of imported vehicles in South Korea rose 5.3 percent in February from a year earlier, while Japanese brands continued their struggle in the face of weaker demand amid trade tensions with Seoul, an industry association said Wednesday. The number of newly registered foreign vehicles rose to 16,725 units [...]
SEOUL, March 2 (Korea Bizwire) — South Korea’s car sales fell 11 percent last month from a year earlier as supply disruptions caused by the coronavirus outbreak resulted in reduced production. The country’s five carmakers — Hyundai Motor Co., Kia Motors Corp., GM Korea Co., Renault Samsung Motors Corp. and SsangYong Motor Co. — sold [...]
SEOUL, Feb. 17 (Korea Bizwire) — The slump in fortunes at large discount stores is continuing and the growth of convenience stores is accelerating in line with social changes, including an increase in the number of single-person households and the rising popularity of online shopping. Amid such circumstances, convenience store chains made more money than [...]
SEOUL, Feb. 16 (Korea Bizwire) — Major non-life insurance firms in South Korea saw their combined net profit fall 39.5 percent last year due to increased losses from their automobile and health insurance segments, industry data showed Sunday. The top eight non-life insurance firms operating in the country reported a combined net profit of 1.75 [...]
SEOUL, Feb. 13 (Korea Bizwire) — Starbucks Korea saw its net profit advance 18.5 percent in 2019 from a year earlier to a record high as the company continued to expand its number of stores here, data showed Thursday. Net profit came to 132.8 billion won (US$112.3 million), compared with 112 billion won posted a [...]
SEOUL, Feb. 13 (Korea Bizwire) — South Korean airlines’ first-quarter earnings may be dismal as they suspended or reduced flights on international routes amid the spreading COVID-19 virus outbreak, analysts said Thursday. In their latest move to respond to the virus, Asiana Airlines Inc., the country’s second-biggest airline after Korean Air Lines Co., said it [...]
SEOUL, Feb. 7 (Korea Bizwire) — LG Uplus Corp., South Korea’s No. 3 mobile carrier, said Friday its net profit fell 8.9 percent last year from a year earlier as it ramped up spending on its 5G network and marketing. In a regulatory filing, LG Uplus reported a net income of 438.8 billion won (US$369.2 [...]