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Despite Industry Challenges, Hyundai Ranks Second in U.S. EV Market

Despite Industry Challenges, Hyundai Ranks Second in U.S. EV Market

SEOUL, Nov. 12 (Korea Bizwire) – South Korea’s Hyundai Motor Group stands as the second-largest player in the U.S. market for electric vehicles (EVs) despite concerns surrounding Washington’s protectionism policy, data showed Sunday. Hyundai Motor Co. took up 4.8 percent of the U.S. EV market in the January-September period, with its smaller sister Kia Corp. [...]

Hyundai and Kia Surpass 200,000 Eco-Friendly Car Sales in the U.S. from January to September

Hyundai and Kia Surpass 200,000 Eco-Friendly Car Sales in the U.S. from January to September

SEOUL, Oct. 15 (Korea Bizwire) – Hyundai Motor Co., South Korea’s biggest carmaker, and its affiliate Kia Corp. sold more than a combined 200,000 eco-friendly vehicles in the United States in the January to September period, according to the companies Sunday. The two automakers have sold a combined 213,270 eco-friendly cars in the U.S. in [...]

Samsung Anticipates Reduced Chip Losses in Q3 due to Production Cutbacks

Samsung Anticipates Reduced Chip Losses in Q3 due to Production Cutbacks

SEOUL, Sept. 30 (Korea Bizwire) – Samsung Electronics Co. is expected to reduce its chip deficit in the third quarter, thanks largely to a continued cut in its chip output, according to analysts Saturday. Samsung, the world’s largest memory chip maker, slashed its chip production early this year, belatedly joining its peers, like SK hynix [...]

South Korean Refineries Anticipate Q3 Turnaround Amidst Strengthened Margins

South Korean Refineries Anticipate Q3 Turnaround Amidst Strengthened Margins

SEOUL, Sept. 29 (Korea Bizwire) – Major South Korean refiners are expected to post a turnaround in their third quarter earnings, recovering from losses and dismal profits in the previous quarter, on the back of stronger margins amid rising oil prices, according to analysts Friday. SK Innovation Co., the energy unit under SK Group, is [...]

Volkswagen’s Tiguan Makes History with 70,000+ Sales in Korea

Volkswagen’s Tiguan Makes History with 70,000+ Sales in Korea

SEOUL, Sept. 2 (Korea Bizwire) — Volkswagen’s flagship sports utility vehicle (SUV), the Tiguan, achieved a significant milestone by becoming the first imported SUV to surpass 70,000 units in sales in the Korean market. On September 1st, Volkswagen Korea proudly announced that the Tiguan, initially introduced in Korea in 2008, has reached an impressive cumulative [...]

Internet-only K-Bank’s Q2 Net Dips 31 pct on Increased Reserves

Internet-only K-Bank’s Q2 Net Dips 31 pct on Increased Reserves

SEOUL, Aug. 14 (Korea Bizwire) — K-Bank, a South Korean internet-only bank, reported Monday that its second-quarter net income dropped 31 percent from a year earlier on increased loan-loss reserves. Net income stood at 14.7 billion won (US$11 million) in the April-June period, compared with a net profit of 21.3 billion won a year earlier, [...]

Nongshim’s Q2 Net Profit Jumps Over 60 pct on Higher Demand, Growth in Overseas Markets

Nongshim’s Q2 Net Profit Jumps Over 60 pct on Higher Demand, Growth in Overseas Markets

SEOUL, Aug. 11 (Korea Bizwire) — South Korea’s top instant noodle maker Nongshim Co. said Friday its net profit jumped more than 60 percent in the second quarter from a year earlier largely thanks to stronger demand for instant noodles amid high inflation and growth in overseas markets. Net profit for the three months ended [...]

SK Biopharmaceuticals Q2 Net Loss Narrows on Robust Sales

SK Biopharmaceuticals Q2 Net Loss Narrows on Robust Sales

SEOUL, Aug. 10 (Korea Bizwire) — SK Biopharmaceuticals Co., a biopharmaceutical affiliate of SK Group, said Thursday its net loss narrowed in the second quarter from a year earlier thanks to stellar overseas sales of its flagship epilepsy medication. Its net deficit for the April-June period reached 23.3 billion won (US$17.7 million) on a consolidated [...]