SEOUL, Aug. 6 (Korea Bizwire) — LG Uplus Corp., a major South Korean mobile carrier, said Friday its second-quarter net profit grew 40 percent thanks to the continued growth of 5G mobile subscriptions and its business infrastructure division. Net profit in the April-June period stood at 210.5 billion won (US$184.2 million) on a consolidated basis, [...]
SEOUL, Aug. 4 (Korea Bizwire) — SK Innovation Co. said Wednesday it turned to the black in the second quarter from a year earlier on robust lube oil and battery sales, and decided to spin off its battery business to further propel its growth. The energy and chemical subsidiary of the nation’s No. 3 conglomerate [...]
SEOUL, Aug. 4 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Corp. said Wednesday their sales jumped 26 percent in the United States last month from a year earlier on strong demand for SUVs. Hyundai Motor and Kia sold a total of 138,599 vehicles in the U.S. last month, up from 110,156 units [...]
SEOUL, Aug. 3 (Korea Bizwire) — K-Bank, South Korea’s first internet-only bank, said Tuesday it turned a profit for the first time since its inception in the second quarter of the year on robust growth in customers and deposits. Net profit stood at 3.9 billion won (US$3.4 million) in the April-June period, a sharp turnaround [...]
SEOUL, Aug. 2 (Korea Bizwire) — South Korean carmakers’ sales fell slightly last month from a year earlier as a global chip shortage and the extended COVID-19 pandemic affected their vehicle production and sales, industry data showed Monday. The country’s five carmakers — Hyundai Motor Co., Kia Corp., GM Korea Co., Renault Samsung Motors Corp. [...]
SEOUL, July 29 (Korea Bizwire) — LG Electronics Inc. on Thursday said it expected a solid third-quarter performance with growth in its auto parts business after delivering strong second-quarter results on the back of its home appliance unit amid the pandemic. The South Korean tech giant said its operating profit spiked 65.5 percent to 1.11 [...]
SEOUL, July 29 (Korea Bizwire) – LG Chem Ltd., South Korea’s leading chemical firm, said Thursday its second-quarter net profit rose to the highest level ever on strong electric vehicle (EV) battery and petrochemical sales. LG Chem’s net profit came to 1.6 trillion won (US$1.4 billion) in the April-June period, skyrocketing 289.5 percent from a [...]
SEOUL, July 29 (Korea Bizwire) — Samsung Electronics Co. on Thursday expected solid chip demand to continue in the second half of the year with recovery in the mobile business after delivering robust second-quarter performance. Its net profit stood at 9.63 trillion won (US$8.3 billion) in the April-June period, up 73.4 percent from a year [...]
SEOUL, July 28 (Korea Bizwire) – LG Display Co., a major display panel maker in South Korea, on Wednesday said it has swung to the black in the second quarter of the year on the back of rising LCD panel prices and improvements in the OLED display business. The world’s leading large-size OLED display maker [...]
SEOUL, July 27 (Korea Bizwire) — South Korean battery maker Samsung SDI Co. said Tuesday its second-quarter earnings jumped nearly sixfold on solid demand for electric vehicle (EV) battery products, hinting at a new battery factory in the United States in the near future to meet growing demand in the world’s most important automobile market. [...]