SEOUL, Jan. 6 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Motors Corp. said Wednesday their U.S. vehicle sales fell 7.3 percent in 2020 from a year earlier amid the COVID-19 pandemic. Hyundai and Kia, South Korea’s two biggest carmakers, sold a combined 1,208,374 vehicles in the world’s most important automobile market last [...]
SEOUL, Nov. 9 (Korea Bizwire) — Celltrion Inc., a major South Korean biopharmaceutical firm, said Monday that its net profit jumped 185.4 percent on-year in the third quarter on the back of robust sales of its products in overseas markets. Net profit came to 175.8 billion won (US$157.8 million) during the July-Sept. period on a [...]
SEOUL, Nov. 8 (Korea Bizwire) — Major listed firms in South Korea reported better-than-expected earnings in the third quarter, raising hopes for a quick recovery from the pandemic-hit economy, data showed Sunday. The combined operating income of 251 listed firms that disclosed earnings as of Friday totaled 32.6 trillion won (US$29.1 billion) for the July-September [...]
SEOUL, Nov. 7 (Korea Bizwire) — Naver Corp. and Kakao Corp., the two major South Korean tech companies, are expected to continue their upward trajectory in earnings projections amid the coronavirus pandemic, market watchers said Saturday. Quarterly sales of Naver — South Korea’s top internet portal operator — and Kakao — the operator of the [...]
SEOUL, Nov. 6 (Korea Bizwire) — Lotte Shopping Co. said Friday it swung to a net profit in the third quarter on robust performance in its non-department store business amid the new coronavirus outbreak. Net income reached 3 billion won (US$2.7 million) in the July-September period, a turnaround from a net loss of 23.3 billion [...]
SEOUL, Nov. 5 (Korea Bizwire) — Korean Air Lines Co., South Korea’s biggest carrier, said Thursday its net losses widened in the third quarter from a year earlier amid the pandemic. Net losses widened to 385.93 billion won (US$343 million) in the three months that ended in September from 211.85 billion won in the same [...]
SEOUL, Nov. 5 (Korea Bizwire) — LG Uplus Corp., a major South Korean telecom operator, downplayed concerns Thursday over its use of network equipment by Huawei Technologies Co. amid U.S. pressure to sever ties with the Chinese company, citing the completion of equipment installation and a healthy backlog for maintenance. The United States has repeatedly [...]
SEOUL, Nov. 5 (Korea Bizwire) — SK Telecom Co., South Korea’s largest mobile carrier, said Thursday its net income rose more than 40 percent in the third quarter from a year earlier on the back of robust growth in its media business. The telecom operator’s net income stood at 395.7 billion won (US$350.5 million) in [...]
SEOUL, Nov. 5 (Korea Bizwire) — Kakao Corp., the operator of South Korea’s top mobile messenger KakaoTalk, said Thursday its third-quarter net profit jumped nearly three times from a year earlier on the back of robust growth of its e-commerce services based on its messenger platform. Net profit reached a quarterly high of 143.7 billion [...]
SEOUL, Nov. 4 (Korea Bizwire) — SK hynix Inc., South Korea’s second-largest chipmaker, on Wednesday reported estimate-beating third-quarter earnings on the back of a recovery in demand for mobile chips amid the pandemic. Its net profit stood at 1.07 trillion won (US$950.4 million) in the third quarter of the year, up 117.5 percent from a [...]