SEOUL, Feb. 6 (Korea Bizwire) — SKC Co., a South Korean manufacturer of advanced materials, said Monday its operating profit declined 45.1 percent in 2022 from a year earlier, mainly weighed down by a spike in electricity bills and other costs. Operating profit reached 220.3 billion won (US$176.2 million) for the January-December period, compared with [...]
SEOUL, Feb. 3 (Korea Bizwire) — South Korean internet portal giant Naver Corp. said Friday its net profit plunged in 2022 from a year earlier due to a one-off factor stemming from a business integration a year earlier. Its net income reached 664 billion won (US$544.1 million), down 96 percent from 16.5 trillion won tallied [...]
SEOUL, Feb. 3 (Korea Bizwire) — LG Uplus Corp., South Korea’s No. 3 mobile carrier, said Friday its 2022 net profit fell from a year earlier due to increased financial costs. Its net income reached 662.6 billion won (US$540.8 million) for 2022, down 8.5 percent from a year ago, the company said in a regulatory [...]
SAN FRANCISCO/SEOUL, Feb. 2 (Korea Bizwire) — South Korean tech giant Samsung Electronics Co. said Thursday it will collaborate with Qualcomm and Google to build an ecosystem for extended reality (XR). Samsung announced the partnership at the Galaxy Unpacked event in San Francisco on Wednesday (local time), where it unveiled new Galaxy S flagship smartphones [...]
SEOUL, Feb. 2 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Corp. said Thursday their combined sales in the United States rose 15 percent in January from a year earlier on robust sales of SUVs and eco-friendly models. Hyundai and Kia sold 107,889 vehicles in the world’s most important automobile market last month, [...]
SEOUL, Feb. 1 (Korea Bizwire) — SK hynix Inc. said Wednesday it swung to a deficit in the fourth quarter due to the global chip market’s slowdown amid weak demand and oversupply. The world’s second-largest memory chip maker logged an operating loss of 1.7 trillion won (US$1.37 billion) for the three months ending in December, [...]
SEOUL, Feb. 1 (Korea Bizwire) — Korean Air Co., South Korea’s biggest air carrier by sales, said Wednesday its net profit nearly tripled in 2022 from a year earlier as travel demand recovered amid eased COVID-19 virus curbs. The national flag carrier posted a net profit of 1.73 trillion won (US$1.4 billion) last year, up [...]
SEOUL, Jan. 31 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemicals producer, saw its profit shrink 40.4 percent in 2022 from a year earlier due mainly to sluggish petrochemical demand. Operating income reached 2.99 trillion won (US$2.43 billion) in the January-December period, compared with 5.02 trillion won logged the previous year, the company [...]
SEOUL, Jan. 31 (Korea Bizwire) — Samsung Electronics Co. reaffirmed Tuesday it has no plan to cut investment for this year despite disappointing earning results in the fourth quarter on a slump in demand. While unfavorable market conditions are expected to persist, “on the flip side, this is a great opportunity for us to prepare [...]
SEOUL, Jan. 30 (Korea Bizwire) — POSCO Chemical Co. said Monday it has signed a largest-ever long-term contract to supply a key component used in electric vehicle (EV) battery cells to Samsung SDI Co. POSCO Chemical will supply high-nickel cathodes, consisting of lithium, nickel, cobalt and aluminum, to Samsung SDI, for a 10-year period starting [...]