SEOUL, Jan. 27 (Korea Bizwire) — Kia Corp., South Korea’s second-biggest carmaker, said Wednesday its fourth-quarter net profit nearly tripled from a year earlier on an improved product mix despite the coronavirus pandemic. Net profit for the three months ended December jumped to 976.75 billion won (US$884 million) from 346.36 billion won a year earlier, [...]
SEOUL, Jan. 27 (Korea Bizwire) — LG Display Co., a major display panel maker in South Korea, on Wednesday said it shifted to a net profit in the fourth quarter of 2020, on the back of increased demand of its panels for IT products and sales of OLED displays amid the pandemic-induced stay-at-home trend. LG [...]
SEOUL, Jan. 26 (Korea Bizwire) — Hyundai Motor Co. said Tuesday its fourth-quarter net profit jumped 78 percent from a year earlier on robust sales of high-end models amid the coronavirus pandemic. Net profit for the three months that ended in December jumped to 1.37 trillion won (US$1.24 billion) from 772 billion won in the [...]
SEOUL, Jan. 26 (Korea Bizwire) — Samsung BioLogics, a biopharmaceutical unit of South Korea’s top conglomerate Samsung Group, said Tuesday its net income increased 18.8 percent on-year in 2020 on the back of improved factory utilization and increased sales. The company’s net profit reached 241 billion won (US$217.8 million) in 2020, compared with a net [...]
SEOUL, Jan. 19 (Korea Bizwire) – Hyundai Motor Co. and affiliate Kia Corp. are expected to post double-digit growth in their fourth-quarter operating profit, helped by robust domestic sales despite the coronavirus pandemic. Strong local demand for their vehicles helped Hyundai Motor and Kia offset their weak overseas sales in the October-December period, analysts said. [...]
SEOUL, Jan. 18 (Korea Bizwire) — South Korea’s top construction equipment maker Doosan Infracore Co. said Monday that the number of its construction equipment sold here rose 18 percent last year from a year ago on increased demand. “Despite the coronavirus pandemic, demand for high-end excavators increased last year here on the back of enhanced [...]
SEOUL, Jan. 12 (Korea Bizwire) — South Korea’s environment-friendly vehicle sales jumped 54 percent to exceed 200,000 units in 2020 from a year earlier on subsidies and an improvement of charging infrastructure, industry data showed Tuesday. Carmakers sold a total of 213,264 eco-friendly models last year, up from 138,957 units the previous year, according to [...]
SEOUL, Jan. 8 (Korea Bizwire) – LG Electronics Inc. on Friday forecast robust fourth-quarter earnings as sales from its mainstay home appliances apparently remained solid despite the weakness of the U.S. dollar. In its earnings guidance, the South Korean tech giant estimated its operating profit at 647 billion won (US$592 million) for the October-December period [...]
SEOUL, Jan. 8 (Korea Bizwire) — Samsung Electronics Co. on Friday forecast solid fourth-quarter earnings as its cash cow chip business apparently stayed afloat in the face of the weakness of the U.S. dollar and the resurgence of novel coronavirus infections to cover mediocre performance in its mobile business. In its earnings guidance, the South [...]
SEOUL, Jan. 7 (Korea Bizwire) — South Korean steelmakers are expected to see their earnings bounce back in the first quarter of the year on a recovery in demand and rising prices, analysts said Thursday. The rosy outlook represents a stark turnaround from their dismal performances last year in the wake of the coronavirus pandemic [...]