SEOUL, Feb. 9 (Korea Bizwire) — KakaoBank Corp., a major South Korean internet-only bank, said Wednesday its 2021 earnings jumped about 80 percent from a year earlier thanks to strong interest income from loans and improved profitability. Net income amounted to 204.12 billion won (US$170.6 million) last year, up 79.6 percent from a net profit [...]
SEOUL, Feb. 9 (Korea Bizwire) — KT Corp., a major South Korean telecom operator, said Wednesday its fourth-quarter net profit grew by more than tenfold from a year earlier on solid growth in 5G users and new businesses, including artificial intelligence. Net income reached 424.4 billion won (US$355 million) in the October-December period on a [...]
SEOUL, Feb. 9 (Korea Bizwire) — SK Telecom Co., South Korea’s largest mobile carrier, said Wednesday its fourth-quarter net profit fell 14 percent from a year earlier due mainly to its non-telecom spinoff. Net profit fell to 314.8 billion won (US$263.4 million) in the October-December period from a profit of 365.9 billion won the previous [...]
SEOUL, Feb. 7 (Korea Bizwire) — Sales of imported vehicles in South Korea fell 22 percent in January from a year earlier as chip shortages continued to disrupt vehicle production, an industry association said Monday. The number of newly registered foreign vehicles fell to 17,361 units last month from 22,321 units a year ago, the [...]
SEOUL, Feb. 3 (Korea Bizwire) — K-Bank, a South Korean internet-only bank, on Thursday reported its first profit since its launch in 2017 thanks to a sharp increase in customers and interest income. Net profit came to 22.4 billion won (US$18.6 million) in 2021, a turnaround from a loss of 105.4 billion won a year [...]
SEOUL, Feb. 2 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Corp. said Wednesday their combined sales in the United States rose 3.1 percent last month from a year earlier on strong demand for their SUV models. Hyundai, Hyundai’s independent Genesis brand, and Hyundai’s affiliate Kia sold a total of 93,998 vehicles in [...]
SEOUL, Feb. 2 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Corp. said Wednesday they sold more than 100,000 units of electric vehicles equipped with their own EV platform since April in global markets. Last year, Hyundai Motor launched the Hyundai IONIQ5 and the GV60 SUV under its independent Genesis brand, while Kia [...]
SEOUL, Jan. 28 (Korea Bizwire) — SK Innovation Co., the energy and chemical affiliate of South Korean conglomerate SK Group, said Friday it swung to the black in the fourth quarter from a year earlier on strong petrochemical demand and electric vehicle (EV) battery sales. Net income came to 163.4 billion won (US$135.7 million) in [...]
SEOUL, Jan. 28 (Korea Bizwire) — LG Uplus Corp., South Korea’s third-largest mobile carrier, said Friday it shifted to black in the fourth quarter from a year earlier on the back of growth in media service and 5G network subscriptions. Net income for the October-December period stood at 101.8 billion won (US$84.5 million), marking a [...]
SEOUL, Jan. 27 (Korea Bizwire) — Korean Air Lines Co., South Korea’s biggest carrier, said Thursday it swung to a net profit last year as increased cargo deals offset a sharp decline in travel demand amid the extended COVID-19 pandemic. Korean Air shifted to a net profit of 638.69 billion won (US$530 million) in 2021 [...]