SEOUL, April 7 (Korea Bizwire) — LG Electronics Inc. on Thursday estimated its first-quarter operating profit to rise 6.4 percent from a year ago, driven by its strong home appliance and TV businesses, as well as one-off patent profits. In its earnings guidance, the South Korean tech firm projected its January-March operating profit at 1.88 [...]
SEOUL, April 7 (Korea Bizwire) – Samsung Electronics Co. said Thursday it is likely to report its best first-quarter earnings in four years on the back of solid chip and mobile demand. In its earnings guidance, the South Korean tech giant estimated its operating profit at 14.1 trillion won (US$11.5 billion) for the first three [...]
SEOUL, April 6 (Korea Bizwire) — Kia Corp., South Korea’s second-biggest carmaker, said Wednesday its on-year vehicle sales jumped 18 percent in India last month on demand for its multipurpose model. Kia sold 22,622 vehicles in India last month, marking the biggest monthly sales figure since it entered the emerging market in August 2019, according [...]
SEOUL, April 5 (Korea Bizwire) — Sales of imported vehicles in South Korea fell 8.7 percent in March as chip shortages continued to affect vehicle production, an industry association said Tuesday. The number of newly registered foreign vehicles fell to 24,912 units last month from 27,297 units a year ago, the Korea Automobile Importers & [...]
SEOUL, April 2 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Corp. said Saturday their combined sales in the United States fell 3.7 percent in the first quarter compared with a year ago due to the prolonged pandemic and chip shortages. The corporate duo sold a total of 322,593 vehicles in the U.S. [...]
SEOUL, April 1 (Korea Bizwire) — South Korean carmakers’ sales fell 10 percent last month from a year earlier, as global chip supply disruptions continued to affect vehicle production and sales, industry data showed Friday. The five carmakers in South Korea — Hyundai Motor Co., Kia Corp., GM Korea Co., Renault Korea Motors and SsangYong [...]
SEOUL, March 28 (Korea Bizwire) — Hyundai Motor Group’s cumulative sales of eco-friendly vehicles in the United States surpassed the 500,000-unit mark in February, 11 years after its entry into the American market, the group said Monday. The group’s two flagships — Hyundai Motor Co. and Kia Corp. — sold a combined 15,218 environmentally friendly [...]
SEOUL, March 21 (Korea Bizwire) — Brokerage firms in South Korea saw their net profit grow sharply last year thanks to increased transactions fees, data showed Monday. According to the data from the Financial Supervisory Service, 58 brokerage firms reported 9.09 trillion won (US$7.5 billion) in their combined net profit last year, up 54.2 percent [...]
SEOUL, March 21 (Korea Bizwire) — Major overseas units of South Korean automaking titan Hyundai Motor Group were profitable in 2021 on brisk sales of eco-friendly vehicles and increased capacity utilization, company data showed Monday. Hyundai Motor Co., the group’s flagship, said its U.S. production unit swung to a net profit of 237 billion won [...]
SEOUL, March 21 (Korea Bizwire) — The U.S. subsidiary of South Korean biopharmaceutical company Celltrion Inc. logged record high sales in the U.S. market last year on the back of robust sales of its self-diagnostic kit for COVID-19, officials said Monday. The annual revenue of Celltrion USA, Inc., the wholly owned subsidiary of Celltrion, reached [...]