SEOUL, July 5 (Korea Bizwire) — Samsung Electronics Co. is expected to report a more than 15 percent rise in operating profit for the second quarter, helped by strong semiconductor business despite slowing demand for smartphones and home appliances, a survey showed Tuesday. The world’s largest memory chip maker is forecast to log 14.5 trillion [...]
SEOUL, July 5 (Korea Bizwire) — South Korea’s top five business groups have seen their assets surge nearly 40 percent over the past decade, a corporate tracker said Tuesday, pointing to their ever-growing clout in Asia’s fourth-largest economy. The combined assets of the leading five — Samsung, SK, Hyundai Motor, LG and Lotte — came [...]
SEOUL, June 19 (Korea Bizwire) — Hyundai Motor Co. and Kia Corp. saw the total sales of their eco-friendly cars exceed 3 million units, industry data showed Sunday, 13 years after they began rolling out hybrid vehicles. South Korea’s top automaker and its affiliate sold 393,509 eco-friendly cars, including plug-in hybrid and all-electric vehicles, in [...]
SEOUL, June 3 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Corp. said Friday their combined sales in the United States fell 31 percent last month from a year earlier amid the prolonged chip shortage. Hyundai and Kia sold 117,373 vehicles in the world’s most important automobile market in May compared with 170,315 [...]
SEOUL, May 16 (Korea Bizwire) — South Korean online lender K-Bank said Monday its earnings shot up in the first quarter of the year on the back of a jump in interest income. Net profit stood at 24.5 billion won (US$19.1 million) in the January-March period, higher than its net income of 22.5 billion won [...]
SEOUL, May 13 (Korea Bizwire) — South Korea’s leading container shipper HMM Co. said Friday its first-quarter earnings rose nearly twentyfold from a year earlier amid high freight rates. Net profit stood at 3.13 trillion won (US$2.43 billion) in the January-March period, compared with a net profit of 154.06 billion won a year earlier, the [...]
SEOUL, May 13 (Korea Bizwire) — South Korea’s state power firm Korea Electric Power Corp. (KEPCO) on Friday reported a record-high operating loss in the first quarter of this year due to high global energy costs and the freeze in electricity rates. Operating loss for the January-March period hit an all-time quarterly high of 7.78 [...]
SEOUL, May 13 (Korea Bizwire) — LG Uplus Corp., South Korea’s third-largest mobile carrier, said its first-quarter net profit slumped 15.2 percent from a year earlier due to decreased profits related to handset sales. LG Uplus logged a net profit of 170.4 billion won (US$132.2 million) on a consolidated basis in the three months ending [...]
SEOUL, May 12 (Korea Bizwire) — KT Corp., South Korea’s No. 2 telecom operator, said Thursday its first quarter net profit increased 39.5 percent thanks to strong performances across its media, mobile commerce and enterprise products. The company said in a regulatory filing that its net profit for the January-March period stood at 455.4 billion [...]
SEOUL, May 12 (Korea Bizwire) — South Korean e-commerce giant Coupang Inc. said Thursday its first-quarter operating loss narrowed sharply from a year earlier thanks to record sales. Its operating loss stood at US$205.7 million in the January-March period, down 23 percent from a year earlier, the New York-listed e-commerce behemoth said in a regulatory [...]