SEOUL, April 15 (Korea Bizwire) — U.S. electric vehicle maker Tesla Inc.’s sales in South Korea nearly quadrupled last year from a year earlier on rising popularity of its vehicles, its financial statement showed Thursday. Tesla Korea said in a regulatory filing that it logged 716.2 billion won (US$640 million) in sales in the Korean [...]
SEOUL, April 13 (Korea Bizwire) — South Korea’s e-commerce giant Coupang Inc. saw its yearly revenue almost double in 2020 from a year ago on the back of explosive growth in the e-commerce sector, and its losses sharply narrowed, filing data showed Tuesday. Coupang’s sales stood at 13.92 trillion won (US$12.38 billion) in 2020, steeply [...]
SEOUL, April 2 (Korea Bizwire) — Hyundai Motor Co. and affiliate Kia Corp., South Korea’s two biggest carmakers, said Friday their combined U.S. sales jumped 76 percent in March from a year earlier on robust demand for their SUV models. Hyundai and Kia sold a total 141,926 vehicles in the United States last month from [...]
SEOUL, Feb. 19 (Korea Bizwire) — Korea Electric Power Corp. (KEPCO) on Friday reported a net income of 2.09 trillion won (US$1.9 billion) in 2020, turning from a loss of 2.26 trillion won a year earlier on the back of the low fuel costs. Operating profit for the year was 4.08 trillion won, compared with [...]
SEOUL, Feb. 18 (Korea Bizwire) – South Korea’s three major multiplex chain operators have seen their respective 2020 sales plunge nearly 70 percent from a year earlier due to the fallout of the yearlong novel coronavirus pandemic, data showed Thursday. Industry leader CJ CGV, the cinema affiliate under the wing of entertainment giant CJ Group, [...]
SEOUL, Feb. 16 (Korea Bizwire) — Asiana Airlines Inc., South Korea’s second-biggest airline by sales, said Tuesday its net losses narrowed in 2020 from a year earlier on cost cuts and other self-help measures. Net losses narrowed to 404.51 billion won (US$367 million) last year from 817.89 billion won the previous year as the company [...]
SEOUL, Feb. 9 (Korea Bizwire) — Kia Corp., South Korea’s second-biggest carmaker by sales, said Tuesday it will invest 29 trillion won (US$26 billion) in car manufacturing facilities and future mobility technologies by 2025. Kia will spend 18.8 trillion won on enhancing profitability in the existing car manufacturing business and 10.1 trillion won on generating [...]
SEOUL, Feb. 9 (Korea Bizwire) – KT Corp., a major South Korean telecom operator, said Tuesday it shifted to a net profit during the final quarter of last year on the back of growing 5G users. Net income reached 39.1 billion won (US$35 million) in the October-December period on a consolidated basis, compared with a [...]
SEOUL, Feb. 9 (Korea Bizwire) — Kakao Corp., the operator of South Korea’s top mobile messenger KakaoTalk, said Tuesday it shifted to the black in 2020 on the back of robust growth of its e-commerce services based on its messenger platform amid the pandemic. Net profit reached 167.1 billion won (US$149.2 million) last year on [...]
SEOUL, Feb. 4 (Korea Bizwire) — Korean Air Lines Co., South Korea’s biggest carrier, said Thursday its net losses narrowed in 2020 from a year earlier, as it offset the pandemic-caused slump in passenger travel with increased cargo deliveries and enjoyed decent gains from an asset sale. Net losses narrowed to 291.45 billion won (US$260 [...]