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Lexus ES300h First Imported Hybrid to Exceed 20,000 Unit Sales in S. Korea

Lexus ES300h First Imported Hybrid to Exceed 20,000 Unit Sales in S. Korea

SEOUL, Dec. 25 (Korea Bizwire) — Lexus ES300h gasoline hybrid model has become the first imported hybrid to post accumulated sales exceeding 20,000 units in South Korea, the Japanese carmaker’s local office said Monday. The ES300h was launched in the Korean market in 2012, with total sales hitting 6,112 models sold last year, accounting for [...]

S. Korea Maintains Dominance over Global DRAM Market in Q3

S. Korea Maintains Dominance over Global DRAM Market in Q3

SEOUL, Dec. 7 (Korea Bizwire) — South Korean tech giants maintained their strong dominance over the global market for dynamic random-access memory (DRAM) chips in the third quarter, data showed Thursday. According to the data compiled by IHS Markit and other industrial sources, Samsung Electronics Co. accounted for 44.5 percent of the market in the [...]

Refiners to Bask in Another Boom Year

Refiners to Bask in Another Boom Year

SEOUL, Nov. 21 (Yonhap) — Aided by improved cracking margins and solid demand for petrochemical products, local oil refiners are forecast to pocket more record earnings this year, and their stellar performance may continue into next year, industry sources said Tuesday. Oil prices have been in the doldrums since 2015 on concerns of an oversupply. [...]

Doosan Infracore Enjoys Extended Brisk Sales in Chinese Market

Doosan Infracore Enjoys Extended Brisk Sales in Chinese Market

SEOUL, Nov. 13 (Korea Bizwire) — Doosan Infracore Co., South Korea’s top construction equipment maker, continued to expand its presence in China’s excavator market, as the world’s No. 2 economy increased spending on infrastructure, industry sources said Monday. According to observers, Doosan Infracore sold 769 excavators in China last month, almost doubling from a year [...]

Samsung Electronics’ Net Profit More than Doubles on-year in Q3

Samsung Electronics’ Net Profit More than Doubles on-year in Q3

SEOUL, Oct. 31 (Korea Bizwire) — Samsung Electronics Co. on Tuesday said its third-quarter net profit more than doubled on-year, mainly led by strong returns from its chip business amid an industrywide boom. Net profit came to 11.1 trillion won (US$9.87 billion), jumping from 4.53 trillion won posted a year earlier, the company said through [...]

Naver Pressed for Transparency After Admission of Compromised News Editing

Naver Pressed for Transparency After Admission of Compromised News Editing

SEOUL, Oct. 26 (Korea Bizwire) — South Korea’s No. 1 portal Naver Corp. is under growing pressure to reinvent itself after admitting to intentionally editing news rankings, industry officials said Thursday, one of the suspicions that has long dogged the company valued at over 26 trillion won (US$23.06 billion). Naver Sports admitted to rearranging the [...]