SEOUL, Oct. 31 (Korea Bizwire) — LG Chem Ltd. said Monday its third-quarter operating profit grew 23.9 percent from a year earlier on the back of strong battery materials demand that helped offset lackluster performance in the petrochemicals segment. Operating income came to 901.2 billion won (US$638.1 million) in the July-September period, compared with 727.2 [...]
SEOUL, Oct. 28 (Korea Bizwire) — LG Electronics Inc. on Friday reported record high sales backed by its electric vehicle (EV) components business but also experienced a big drop in net income in the third quarter on sluggish demand for consumer electronics amid high inflation and recession fears. The South Korean tech company reported in [...]
SEOUL, Oct. 27 (Korea Bizwire) — Samsung Electronics Co. on Thursday posted a sharp drop in profits for the third quarter, as its main semiconductor business faced major headwinds from weakening memory chip prices and demand. The world’s largest memory chip and mobile phone maker said in a regulatory filing its third-quarter net profit declined [...]
SEOUL, Oct. 27 (Korea Bizwire) — Exports of petroleum products by major refiners in South Korea hit a record quarterly high of US$16.3 billion in the third quarter, helped by higher fuel prices amid prolonged supply bottlenecks stemming from Russia’s invasion of Ukraine, data showed Thursday. The outbound shipments by SK Energy Co., GS Caltex [...]
SEOUL, Oct. 27 (Korea Bizwire) — SK Geocentric Co., a chemical unit of South Korea’s SK Group, said Thursday it has signed a binding joint venture agreement with a U.S. partner to build a plastic recycling plant here as it pushes to pivot to green chemicals business. The 50:50 joint venture with Purecycle Technologies Inc. [...]
SEOUL, Oct. 26 (Korea Bizwire) — LG Display Co. said Wednesday its operating losses widened in the third quarter on slowing demand for its key products and falling prices, while remaining in deficit for the second quarter in a row. The major panel maker reported a third-quarter net loss of 774 billion won (US$542.7 million) [...]
SEOUL, Oct. 26 (Korea Bizwire) — SK hynix Inc. reported its third-quarter earnings Wednesday, falling short of analysts’ expectations on the top and bottom lines, amid a cyclical downturn of the global semiconductor industry. The chipmaker’s third-quarter net income was 1.1 trillion won (US$769.4 million), down 66.7 percent from a year earlier, according to a [...]
SEOUL, Oct. 26 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), a major secondary battery maker, said Wednesday it shifted to the black in the third quarter from a year earlier on the back of robust demand in electric vehicle (EV) batteries and a weaker Korean won currency. LGES said it will continue its focus [...]
SEOUL, Oct. 26 (Korea Bizwire) — Samsung SDI Co. said Wednesday it posted record high profit and sales in the third quarter on the back of strong demand for secondary batteries used in electric vehicles (EVs). Operating profit reached 565.9 billion won (US$396 million) in the July-September period, up 51.5 percent from 373.5 billion won [...]
SEOUL, Oct. 25 (Korea Bizwire) — Kia Corp., South Korea’s second-biggest carmaker, said Tuesday its third-quarter net profit plunged 60 percent from a year earlier on provisions for additional engine-related recall costs. Net profit for the three months ended in September fell to 458.89 billion won (US$319 million) from 1.13 trillion won during the same [...]