SEOUL, Jan. 30 (Korea Bizwire) — KT&G Corp., South Korea’s dominant tobacco company, said Monday it has extended its partnership with Philip Morris International Inc. (PMI) to strengthen its presence in global e-cigarette markets. KT&G and PMI have signed a 15-year supply contract, in which the former will distribute its e-cigarette product line Iil through [...]
SEOUL, Jan. 30 (Korea Bizwire) — South Korean battery maker Samsung SDI Co. said Monday it posted record-high profit in 2022, driven by solid demand for electric vehicle (EV) batteries and energy storage systems (ESS). Operating income reached 1.8 trillion won (US$1.46 billion) last year, up 69.4 percent from the previous year’s 1.06 trillion won, [...]
SEOUL, Jan. 29 (Korea Bizwire) — SK E&S Co., an energy unit of SK Group, said Sunday its U.S. affiliate has launched an electric vehicle (EV) charging station at an airport in Texas under ties with a major U.S. car rental firm. EverCharge Inc., a California-based charging solution provider acquired by SK E&S in March [...]
SEOUL, Jan. 29 (Korea Bizwire) — South Korean oil refiners’ exports hit a record-high level in 2022, data showed Sunday, on the back of soaring global energy prices amid the protracted war between Russia and Ukraine. The combined exports of local oil refiners reached US$57 billion in 2022, up 71.2 percent from a year earlier, [...]
SEOUL, Jan. 28 (Korea Bizwire) — Samsung Biologics Co., the biotech arm of South Korea’s Samsung Group, said Friday its 2022 net income more than doubled on strong overseas sales of its biomedicine products after its takeover of Samsung Bioepis Co. Its net income reached 798.1 billion won (US$648.1 million) in 2022, up 102.8 percent [...]
SEOUL, Jan. 28 (Korea Bizwire) — POSCO Holdings Inc. on Friday said its net profit halved last year from a year earlier largely due to a typhoon in September and an industry downturn. Net profit reached 3.6 trillion won (US$2.92 billion) on a consolidated basis last year, compared with a net profit of 7.2 trillion [...]
SEOUL, Jan. 27 (Korea Bizwire) — LG Electronics Inc. said Friday its operating profit for the fourth quarter nosedived more than 90 percent on a drop in demand for home appliances and rising promotion cost amid global macroeconomic woes. The tech firm said operating income for the three months ending in December fell 90.7 percent [...]
SEOUL, Jan. 27 (Korea Bizwire) — POSCO Chemical Co., a major South Korean manufacturer of secondary battery materials, said Friday it posted record-high operating profit last year, boosted by solid demand for electric vehicle (EV) battery components. Operating income reached 165.9 billion won (US$134.7 million) in the January-December period, up 36.3 percent from the previous [...]
SEOUL, Jan. 27 (Korea Bizwire) — Kia Corp., South Korea’s second-biggest carmaker, said Friday its fourth-quarter net profit soared 63 percent from a year earlier on improved chip supplies, strong demand for its high-end SUVs and a weak won. Net profit for the three months ended Dec. 31 jumped to 2.037 trillion won (US$1.65 billion) [...]
SEOUL, Jan. 27 (Korea Bizwire) – LG Energy Solution Ltd. (LGES) said Friday it is aiming for a revenue target increase in the range of 25-30 percent for 2023 from last year, as it posted record earnings last year on the back of solid growth in the global electric vehicle (EV) market. That amounts to [...]