SEOUL, Oct. 26 (Korea Bizwire) — South Korea’s Hyundai Motor Co. on Tuesday achieved a turnaround in the third quarter from a year earlier on a base effect but revised down its annual sales target due to chip shortages. For the three months ended on Sept. 30, Hyundai Motor swung to a net profit of [...]
SEOUL, Oct. 26 (Korea Bizwire) — SK hynix Inc., South Korea’s No. 2 chipmaker, reported strong third-quarter earnings Tuesday on the back of solid memory chip demand for severs and smartphones, and rising prices. Net profit for the three months that ended Sept. 30 leaped by 205.7 percent from a year earlier to 3.31 trillion [...]
SEOUL, Oct. 25 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, said Monday its third-quarter net profit rose 19.2 percent from a year earlier, backed by solid petrochemical sales despite the one-off factor from its electric battery (EV) recall costs. The net income came to 679.9 billion won (US$581.9 million) in the [...]
SEOUL, Oct. 25 (Korea Bizwire) — POSCO, the world’s fifth-largest steelmaker by output, said Monday its third-quarter net profit rose more than fourfold from a year earlier on robust demand amid the global economic recovery from the COVID-19 pandemic. Net profit reached 2.63 trillion won (US$2.24 billion) on a consolidated basis in the July-September period, [...]
SEOUL, Oct. 21 (Korea Bizwire) — Hyundai Doosan Infracore Co. said Thursday its net profit was down 44.1 percent in the third quarter from a year earlier due to sluggish sales in the Chinese market. The construction equipment maker posted 45.9 billion won (US$39 million) in net income in the July-September period, compared with 82.1 [...]
SEOUL, Oct. 21 (Korea Bizwire) – Naver Corp. said Thursday its net profit jumped 37.1 percent in the third quarter from a year earlier largely due to a stellar performance of its content businesses amid the new coronavirus pandemic. Net profit reached 322.7 billion won (US$274.8 million) in the July-September period, compared with a profit [...]
SEOUL, Oct. 13 (Korea Bizwire) — POSCO, the world’s fifth-largest steelmaker by output, said Wednesday its third-quarter operating income more than quadrupled to a record high on robust demand amid the global economic recovery from the COVID-19 pandemic. Operating income for the three months that ended in September reached 3.11 trillion won (US$2.6 billion) on [...]
SEOUL, Sept. 22 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Corp.’s environment friendly vehicle sales in the United States more than doubled in August compared with a year ago, led by solid demand for their hybrid sport utility vehicles, industry data showed Wednesday. Hyundai and Kia sold a combined 8,312 eco-friendly cars [...]
SEOUL, Sept. 13 (Korea Bizwire) — Sales of high-end imported cars spiked nearly 66 percent in the first eight months of the year amid the popularity of big-ticket eco-friendly models among local motorists and a post-lockdown shopping spree, industry data showed Monday. A total of 45,042 imported vehicles with price tags of 100 million won [...]
SEOUL, Sept. 12 (Korea Bizwire) — Genesis, the independent luxury brand of Hyundai Motor Co., sold more than 100,000 sport utility vehicles (SUV) globally in just 1 1/2 years since its SUV market debut, thanks to brisk sales at home and in North America, data showed Sunday. Genesis’ SUV sales totaled 107,700 units from the [...]