SEOUL, Jan. 9 (Korea Bizwire) – Samsung Electronics Co. on Tuesday predicted that its operating profit for the fourth quarter of last year would tumble 35 percent on year, hurt by persistently weak demand for its mainstay semiconductor division. Samsung, the world’s biggest maker of memory chips and smartphones, estimated its fourth-quarter operating profit at [...]
SEOUL, Jan. 8 (Korea Bizwire) – LG Electronics Inc., South Korea’s leading home appliance maker, said Monday its operating profit likely more than quadrupled in the fourth quarter from a year earlier, helped by robust sales of home appliances and vehicle component solutions. Operating profit for the three months ended in December soared to an [...]
SEOUL, Nov. 20 (Korea Bizwire) – Hyundai Motor Co. and its smaller affiliate Kia Corp. said Monday their combined vehicle sales in Britain rose 8.7 percent in the January-October period from a year earlier on increased sales of environmentally friendly models. In the first 10 months, Hyundai and Kia sold a total of 173,428 vehicles [...]
SEOUL, Nov. 16 (Korea Bizwire) –Hyundai Motor Co., South Korea’s top automaker, is expected to post the biggest operating profit among local listed firms in 2023, outstripping perennial leader Samsung Electronics Co., a corporate tracker said Thursday. Samsung Electronics has remained atop the operating income list since 2009, but its operating income is forecast to [...]
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. [...]
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 [...]
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 [...]
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 [...]
SEOUL, Sept. 17 (Korea Bizwire) – Hyundai Motor Co. said Sunday the accumulated sales of its Genesis brand models exceeded 1 million units as of August, reaching the milestone in around eight years since the brand’s inception. The South Korean carmaker sold 690,177 units of the models in the domestic market, along with 318,627 units [...]
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 [...]