SEOUL, April 11 (Korea Bizwire) — Korean Air Co., South Korea’s leading air carrier, said Friday its first-quarter sales rose 3 percent on-year thanks to increased demand in both the passenger and cargo business divisions. Sales for the three-month period ending in March reached 3.96 trillion won (US$2.7 billion), while operating profit dropped 19 percent [...]
SEOUL, Feb. 14 (Korea Bizwire) — South Korea’s gaming industry saw a stark divide in financial performance for 2024, with companies’ fortunes hinging on the success of their overseas ventures. While Nexon and Krafton cemented their dominance, NCSoft faced restructuring, and Netmarble showed signs of recovery after years of losses. According to year-end earnings reports released [...]
SEOUL, Oct. 27 (Korea Bizwire) – The market capitalization gap between Samsung Electronics Co. and SK hynix Inc. marked the lowest level in 13 years as of Friday, the main stock exchange said Sunday. Samsung Electronics’ market capitalization accounted for 15.85 percent, or 333.7 trillion won (US$240 billion), of the overall value of stocks listed [...]
SEOUL, Oct. 25 (Korea Bizwire) – In a sign of mounting challenges for the world’s largest coffee chain, Starbucks has withdrawn its fiscal 2025 outlook amid declining sales and profitability concerns that span from its U.S. home market to South Korea. The coffee giant reported disappointing preliminary fourth-quarter results on October 22, with global revenue falling [...]
SEOUL, July 1 (Korea Bizwire) –Renault Korea Motors Co., the South Korean arm of Renault S.A., reported a notable 23.4% increase in its June sales, driven by a significant rise in exports. The company announced on Monday that it sold 9,002 vehicles last month, a considerable jump from the 7,297 units sold in the same [...]
SEOUL, May 30 (Korea Bizwire) – South Korea’s automakers led all industries in cash dividends paid to shareholders last year, reflecting a boom in exports and demand for eco-friendly vehicles even as a global chip slump weighed on technology giants. Listed companies distributed a total of 29.5 trillion won in cash dividends for 2023, up 3.3% [...]
SEOUL, March 17 (Korea Bizwire) – Hyundai Motor Co. and Kia Corp., South Korea’s biggest carmakers, have sold more than an accumulated 5 million eco-friendly vehicles in the global market over the past 15 years, company officials said Sunday. The two companies sold a total of 5.11 million units of eco-friendly cars, including hybrid electric [...]
SEOUL, March 4 (Korea Bizwire) – GM Korea Co., the South Korean unit of General Motors Co., said Monday its vehicle sales rose nearly 17 percent in February from a year earlier thanks to strong demand from both home and abroad. GM Korea sold 30,630 vehicles last month, up 16.9 percent from 26,191 units from [...]
SEOUL, Feb. 28 (Korea Bizwire) – For the first time, the average annual salary of an external director at Samsung Electronics has surpassed the 200 million won mark, setting a new precedent in the compensation for board members within the company. According to a report by CEO Score, a corporate data research firm, as of [...]
SEOUL, Feb. 1 (Korea Bizwire) – GM Korea Co., the South Korean unit of General Motors Co., said Thursday its vehicle sales more than doubled in January from a year earlier thanks to strong demand from both home and abroad. GM Korea sold 43,194 vehicles in January, up 165.8 percent from a year ago on [...]