SEOUL, July 27 (Korea Bizwire) — SK hynix Inc., South Korea’s second-largest chipmaker, on Tuesday delivered robust second-quarter earnings on the back of strong memory demand in the market. SK hynix reported that its second-quarter net income stood at 1.98 trillion won (US$1.7 billion), up 56.5 percent from a year earlier. Operating profit for the [...]
SEOUL, July 26 (Korea Bizwire) — Samsung Electronics Co. on Monday said it has signed a partnership with CJ ENM Co., the county’s top entertainment firm, to establish a virtual production set for content development. Samsung will supply its microLED display product, the Wall, to CJ ENM’s virtual studio, which will open in Paju, 30 [...]
SEOUL, July 22 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Corp., South Korea’s two biggest carmakers, on Thursday reported strong second-quarter earnings on a base effect and strong sales of their high-end SUVs. Hyundai’s net profit for the three months that ended in June jumped to 1.98 trillion won (US$1.7 billion) from [...]
SEOUL, July 22 (Korea Bizwire) — South Korea’s top internet portal operator Naver Corp. said Thursday its net profit jumped nearly six times in the second quarter from a year earlier largely due to a stellar performance of its fintech and commerce businesses amid the new coronavirus pandemic. Net profit reached 540.6 billion won (US$468.5 [...]
SEOUL, July 22 (Korea Bizwire) — POSCO, the world’s fifth-largest steelmaker by output, said Thursday that its second-quarter net profit surged 18 times from a year earlier on robust demand amid the global economic recovery from the COVID-19 pandemic. Net profit for the three months that ended in June soared to 1.81 trillion won (US$1.57 [...]
SEOUL, July 21 (Korea Bizwire) — Sales of major high-growth unlisted companies in South Korea have risen more than four times over the past three years with online distributors and bio firms posting explosive growth, a corporate tracker said Wednesday. The combined top line of the country’s top 100 unlisted companies came to 20.4 trillion [...]
SEOUL, July 12 (Korea Bizwire) — Imported electric vehicle sales jumped 65 percent in the first half compared with a year earlier despite an extended COVID-19 pandemic, industry data showed Monday. From January to June, the number of imported EV registrations jumped to 14,295 units from 8,681 in the year-ago period, according to the Korea [...]
SEOUL, July 9 (Korea Bizwire) — South Korea’s leading steelmaker POSCO estimated Friday its second-quarter operating profit hit the highest point in 15 years on robust demand amid a global economic recovery from the COVID-19 pandemic. Operating profit for the April-June quarter jumped to 2.2 trillion won (US$1.9 billion) from 121.2 billion won during the [...]
SEOUL, July 7 (Korea Bizwire) — LG Electronics Inc. said Wednesday it expected a solid performance in the second quarter as its home appliance business apparently continued to ride on robust demand of premium products amid the pandemic. In its earnings guidance, the South Korean tech giant projected its operating profit at 1.1 trillion won [...]
SEOUL, July 7 (Korea Bizwire) — Samsung Electronics Co. on Wednesday expected market estimate-beating second-quarter earnings as its semiconductor business apparently offset a tepid performance from its mobile business. In its earnings guidance, the South Korean tech giant estimated its operating profit at 12.5 trillion won (US$11 billion) for the April-June period, up 53.4 percent [...]