SEOUL, Feb. 1 (Korea Bizwire) – Hyundai Motor Co., South Korea’s biggest carmaker, said Thursday its January sales rose 1.8 percent from a year earlier helped by strong overseas demand. Hyundai Motor sold 315,555 vehicles in January, up from 310,123 units a year earlier, the company said in a statement. Overseas sales rose 2.8 percent [...]
SEOUL, Jan. 29 (Korea Bizwire) – Executives of export companies believe that family business succession is crucial for the sustainability and responsible management of their enterprises. However, a recent study reveals that due to heavy tax burdens and negative social perceptions, many are contemplating selling or shutting down their businesses. A report from the Korea International [...]
SEOUL, Jan. 17 (Korea Bizwire) – South Korean budget airline Jin Air Co. said Wednesday it posted record earnings in 2023 on strong demand, shaking off the fallout of the coronavirus outbreak. Net income came to an all-time high of 135.8 billion won (US$101 million) on a separate basis last year, the first black ink [...]
SEOUL, Jan. 9 (Korea Bizwire) – Samsung Electronics Co. on Tuesday predicted that its operating profit for the fourth quarter of last year would tumble 35 percent on year, hurt by persistently weak demand for its mainstay semiconductor division. Samsung, the world’s biggest maker of memory chips and smartphones, estimated its fourth-quarter operating profit at [...]
SEOUL, Jan. 8 (Korea Bizwire) – LG Electronics Inc., South Korea’s leading home appliance maker, said Monday its operating profit likely more than quadrupled in the fourth quarter from a year earlier, helped by robust sales of home appliances and vehicle component solutions. Operating profit for the three months ended in December soared to an [...]
SEOUL, Dec. 19 (Korea Bizwire) – LG Electronics has announced a strategic partnership with global automotive glass company Saint-Gobain Sekurit to introduce a cutting-edge transparent antenna for motor vehicles, a move signaling significant advancements in automotive communication technology. This innovative product will be showcased to automotive clients at the Consumer Electronics Show (CES) 2024 in Las [...]
SEOUL, Nov. 20 (Korea Bizwire) – Hyundai Motor Co. and its smaller affiliate Kia Corp. said Monday their combined vehicle sales in Britain rose 8.7 percent in the January-October period from a year earlier on increased sales of environmentally friendly models. In the first 10 months, Hyundai and Kia sold a total of 173,428 vehicles [...]
SEOUL, Nov. 16 (Korea Bizwire) –Hyundai Motor Co., South Korea’s top automaker, is expected to post the biggest operating profit among local listed firms in 2023, outstripping perennial leader Samsung Electronics Co., a corporate tracker said Thursday. Samsung Electronics has remained atop the operating income list since 2009, but its operating income is forecast to [...]
SEOUL, Nov. 15 (Korea Bizwire) – South Korean battery maker SK On Co. said Wednesday it has partnered with German battery materials firm BASF SE to explore possible business opportunities in the global lithium-ion battery markets. SK On and BASF reached an agreement to collaborate in exploring business opportunities in cathode active materials (CAM) production, [...]
SEOUL, Nov. 12 (Korea Bizwire) – South Korea’s Hyundai Motor Group stands as the second-largest player in the U.S. market for electric vehicles (EVs) despite concerns surrounding Washington’s protectionism policy, data showed Sunday. Hyundai Motor Co. took up 4.8 percent of the U.S. EV market in the January-September period, with its smaller sister Kia Corp. [...]