SEOUL, May 13 (Korea Bizwire) — SK Innovation Co., South Korea’s refinery-to-battery company, said Thursday it continued to suffer losses in the first quarter despite its strong earnings from its petrochemical business as it reflected hefty settlement costs for a battery suit with its bigger rival LG Energy Solution Ltd. SK Innovation booked a net [...]
NEW YORK, May 12 (Korea Bizwire) — South Korean e-commerce giant Coupang Inc. said Wednesday its first-quarter sales hit a new high, but operating losses widened sharply due to increased costs and investment. Sales stood at US$4.21 billion in the January-March period, up 74 percent from a year earlier, Coupang said in a regulatory filing. The [...]
SEOUL, May 12 (Korea Bizwire) — LG Uplus Corp., South Korea’s third-largest mobile carrier, said Wednesday its first-quarter net profit rose 35 percent from a year earlier on the back of growth in 5G network subscriptions. Net income for the January-March period stood at 200.9 billion won (US$178.9 million), compared with 148.8 billion won the [...]
SEOUL, May 11 (Korea Bizwire) — KT Corp., a South Korean telecom giant, said Tuesday its first-quarter net profit rose 43.7 percent from a year earlier on the back of growth in 5G users and new tech businesses. Net income for the January-March period stood at 326.5 billion won (US$292 million) on a consolidated basis, [...]
SEOUL, May 11 (Korea Bizwire) — SK Telecom Co., South Korea’s largest mobile carrier, said Tuesday its first-quarter net income nearly doubled on the back of increased equity gains and growth in its 5G subscriber base. Net profit stood at 572 billion won (US$510.8 million), up 86.95 percent from a year earlier, while operating profit [...]
SEOUL, May 6 (Korea Bizwire) — Kakao Corp., the operator of South Korea’s top mobile messenger KakaoTalk, said Thursday its first-quarter net profit jumped nearly four times from a year earlier on the back of robust growth of its mobility and fintech businesses amid the pandemic. Net profit reached 239.9 billion won (US$213.7 million) in [...]
SEOUL, May 4 (Korea Bizwire) – Hybe Co., the K-pop powerhouse behind BTS, said Tuesday its first-quarter net profit advanced 11.3 percent on-year on the back of strong sales of merchandise. Net profit came to 15.8 billion won (US$17.7 million) in the January-March period, compared with a profit of 14.2 billion won tallied a year [...]
SEOUL, May 4 (Korea Bizwire) — Hyundai Motor Co. and affiliate Kia Corp., South Korea’s two biggest carmakers, said Tuesday their combined U.S. sales more than doubled in April from a year earlier on robust demand for their SUV models. Hyundai and Kia sold a total 147,700 vehicles in the United States last month from [...]
SEOUL, April 29 (Korea Bizwire) — LG Electronics Inc. on Thursday reported its best-ever quarterly earnings in the first quarter on the back of robust home appliance sales. The South Korean tech giant said it logged a net profit of 1.17 trillion won (US$1.05 billion) in the January-March period on a consolidated basis, up from [...]
SEOUL, April 29 (Korea Bizwire) — South Korea’s top internet portal operator, Naver Corp., said Thursday its net profit jumped 11,252.5 percent on-year during the first quarter due to accounting profits. Net profit reached 15.31 trillion won (US$13.8 billion) during the January-April period, compared with 134.9 billion won in the previous year, the company said [...]