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 [...]
SEOUL, Jan. 27 (Korea Bizwire) — LG Display Co. reported its third consecutive quarterly loss Friday on weak demand for its panel products and falling prices. The major panel maker reported an operating loss of 875.7 billion won (US$709.3 million) for the fourth quarter, compared with a profit of 476.4 billion won a year ago, [...]
SEOUL, Jan. 26 (Korea Bizwire) — Hyundai Motor Co. said Thursday its fourth-quarter net profit more than doubled 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 1.709 trillion won (US$1.38 billion) from 701.37 billion [...]
SEOUL, Jan. 25 (Korea Bizwire) — LG Innotek Co., an IT parts manufacturer, on Wednesday said its net profit for 2022 rose more than 10 percent, helped by robust sales of high-value products and growing demand from automotive components customers. In a regulatory filing, LG Innotek, Apple’s largest partner in the field of optics, reported [...]
SEOUL, Jan. 20 (Korea Bizwire) — POSCO Holdings Inc. on Friday said its operating income nearly halved last year from a year earlier largely due to a typhoon in September and an industry downturn. Its operating income stood at 4.9 trillion won (US$3.96 billion) last year, sharply down from an operating income of 9.2 trillion [...]
SEOUL, Jan. 19 (Korea Bizwire) — South Korean battery maker SK On Co. said Thursday it has joined hands with a U.S. company to jointly develop natural graphite anode materials used in electric vehicle (EV) batteries, in the latest move to diversify the supply of key battery components. Under the joint development agreement recently signed [...]
SEOUL, Jan. 18 (Korea Bizwire) — Hyundai Motor Co. and its smaller affiliate Kia Corp. said Wednesday their combined sales in Europe rose 4.2 percent in 2022 from a year earlier amid a global chip shortage and the COVID-19 pandemic. Hyundai and Kia sold a combined 1,060,989 vehicles in Europe last year, up from 1,018,636 [...]
SEOUL, Jan. 18 (Korea Bizwire) — SsangYong Motor Co. said Wednesday it shifted to an operating profit in the fourth quarter from a year earlier despite the global chip shortage and the extended COVID-19 pandemic. SsangYong swung to an operating profit of 4.1 billion won (US$3.3 million) in the three months ended in December, shifting [...]
SEOUL, Jan. 18 (Korea Bizwire) — Major South Korean companies spent more than 5 trillion won (US$4.04 billion) in 2022 to help cut air pollution and promote workplace safety as part of their so-called environment, social and governance (ESG) management, a report said Wednesday. The country’s top 100 firms by sales invested 5.44 trillion won [...]
SEOUL, Jan. 16 (Korea Bizwire) — Apple Korea’s sales rose slightly to 7.3 trillion won (US$5.9 billion) last year, data showed Monday. The South Korean unit of U.S. tech giant Apple Inc. logged 7.3 trillion won in sales from Oct. 1, 2021, to Sept. 30, 2022, up from 7.1 trillion won the previous one-year period, [...]