SEOUL, March 2 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Corp. said Thursday their combined sales in the United States rose 16 percent in February from a year earlier on robust sales of SUVs and eco-friendly models. Hyundai and Kia sold 122,111 vehicles in the world’s most important automobile market last month, [...]
SEOUL, March 2 (Korea Bizwire) — K-Bank, a South Korean internet-only bank, reported Thursday that its net income in 2022 nearly quadrupled to a record high thanks to a spike in interest income. K-Bank’s net income came to 83.6 billion won (US$64 million) last year, up from a net profit of 22.5 billion won reported [...]
SEOUL, March 1 (Korea Bizwire) — Coupang Inc. said Wednesday it posted a profit for the second consecutive quarter in the final three months of last year on operational improvements. The South Korean e-commerce giant’s net income came to US$102.1 million in the October-December period last year, compared with a net loss of $405 million [...]
SEOUL, Feb. 28 (Korea Bizwire) — Lotte Chemical Corp., a South Korean chemical company, said Tuesday it has signed a preliminary deal with a U.S. ammonia producer to explore opportunities for clean ammonia production and its offtake into Korea. The memorandum of understanding with CF Industries Holdings Inc. calls for the two to assess the [...]
SEOUL, Feb. 24 (Korea Bizwire) — The state-run utility Korea Electric Power Corp. (KEPCO) said Friday its operating loss more than quintupled on-year to hit a record high last year due to higher fuel costs and limited electricity rate hikes. Its operating loss came to 32.63 trillion won (US$25.02 billion) in 2022, compared with 5.85 [...]
SEOUL, Feb. 24 (Korea Bizwire) — POSCO International Corp., a major South Korean commodities trader, has joined hands with food company Daesang Corp. to scale up their starch sweetener business, the two companies said Friday. They signed a memorandum of understanding (MOU) the previous day to cooperate in investing in new businesses and the supply [...]
SEOUL, Feb. 23 (Korea Bizwire) — SK Materials Co., a semiconductor and display material unit under SK Group, has teamed up with U.S. oil major Exxon Mobil Corp. to step into the blue ammonia market. The two parties announced on Wednesday that they had signed an agreement to mass-produce and import blue ammonia using next-generation [...]
SEOUL, Feb. 23 (Korea Bizwire) — Incheon International Airport will take a leap forward to become an eco-friendly airport through the construction of a large liquefied hydrogen charging station. SK Plug Hyverse on Wednesday signed a business agreement for the establishment of eco-friendly airport infrastructure with the Ministry of Land, Infrastructure and Transport, the Incheon [...]
SEOUL, Feb. 22 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s top battery maker, said Wednesday it has signed a non-binding agreement with Ford Motor Co. and Turkey’s Koc Holding A.S. to push for a joint venture to build an electric vehicle (EV) battery plant in Turkey. The announcement came two weeks after [...]
SEOUL, Feb. 22 (Korea Bizwire) — South Korean tech giants have joined hands to expand the simple payment ecosystem with the impending launch of Apple Inc.’s mobile payment service Apple Pay in the domestic market, Samsung Electronics Co., the world’s largest mobile phone maker, and Naver Financial Corp., a financial arm of leading portal operator [...]