SEOUL, July 21 (Korea Bizwire) — South Korea’s Hyundai Motor Co. said Thursday its second-quarter net profit jumped 56 percent from a year earlier on improved product mix and a weak won. Net profit for the three months ended in June rose to 3.08 trillion won (US$2.34 billion) from 1.98 trillion won during the same [...]
SEOUL, July 17 (Korea Bizwire) — Samsung Electronics Co. said Sunday its accumulated wind-free air conditioner sales have exceeded 7 million units in the domestic market since its launch six years ago. Samsung launched the “no-wind” air conditioner for the first time in the world in 2016 and has expanded its lineup of the product [...]
SEOUL, July 12 (Korea Bizwire) — Samsung Electronics Co., the world’s top memory chip maker, saw its DRAM sales fall in the first three months of the year for a second quarter on weaker prices and other negatives, but the company retained its top spot in the global market, data showed Tuesday. Samsung’s DRAM revenue [...]
SEOUL, July 7 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. said Thursday it expects its second-quarter operating profit to shrink sharply from a year earlier due to global supply disruptions and China’s COVID-19 lockdowns. The company estimated operating income for the April-June period at 195.6 billion won (US$150.5 million), down 73 [...]
SEOUL, July 7 (Korea Bizwire) — South Korea’s cosmetic exports posted a record-high amount, surpassing the 10 trillion-won mark for the first time in history, data showed Thursday. According to the Ministry of Food and Drug Safety, South Korea’s cosmetic exports grew 21.3 percent from the previous year and reached 10.5 trillion won (US$8.1 billion). [...]
SEOUL, July 7 (Korea Bizwire) — LG Electronics Inc. on Thursday estimated its second-quarter operating profit decreased 12 percent year-over-year on weaker demand for TV and home appliances amid rising inflation and raw material costs. Its earnings guidance for the April-June period showed the tech company’s operating profit declined 12 percent from a year ago [...]
SEOUL, July 7 (Korea Bizwire) — Samsung Electronics Co. said Thursday it is likely to report its best second-quarter earnings in four years on the back of solid chip demand. In its earnings guidance, the South Korean tech giant estimated its operating profit at 14 trillion won (US$11 billion) for the April-June period, up 11.38 [...]
SEOUL, July 5 (Korea Bizwire) — LG Electronics Inc. said Tuesday it has secured 8 trillion won (US$6.1 billion) worth of new orders for electric vehicle (EV) parts and solutions in the first half, a sign that its new growth engine is gaining ground. While the South Korean tech company did not reveal the details [...]
SEOUL, July 5 (Korea Bizwire) — South Korean battery makers are expected to show mixed quarterly results in the second quarter, with Samsung SDI Co. likely to be the only one with profit growth, as rising raw materials costs and auto chip shortages continue to weigh down on their profitability. Samsung SDI is estimated to [...]
SEOUL, July 5 (Korea Bizwire) — Major South Korean oil refiners are estimated to have reaped strong earnings in the second quarter following record profits in the previous quarter, boosted by widened margins and higher oil prices, industry data showed Tuesday. Top player SK Innovation Co. is expected to have posted 1.81 trillion won (US$1.39 [...]