SEOUL, Oct. 24 (Korea Bizwire) — Hyundai Motor Co. on Monday raised its annual revenue and operating profit margin guidance after reporting a 5 percent on-year decline in third-quarter net profit on provisions involving engine-related services. The South Korean carmaker expected its on-year revenue will grow by 19-20 percent this year, which is higher than [...]
SEOUL, Oct. 24 (Korea Bizwire) — POSCO Holdings Inc. on Monday reported a 77-percent drop in its third-quarter net income, in the face of typhoon damage and a fall in prices of key products. Its net profit for the July-September period reached 600 billion won (US$416.8 million) on a consolidated basis, compared with a net [...]
SEOUL, Oct. 24 (Korea Bizwire) — POSCO Chemical Co. said Monday its third quarter net profit jumped 60.5 percent from a year earlier on the back of solid growth in the lucrative battery materials segment. Net income came to 65.6 billion won (US$45.7 million) in the July-September period, compared with a net profit of 40.8 [...]
SEOUL, Oct. 19 (Korea Bizwire) — POSCO Holdings Inc., the holding firm of South Korea’s top steelmaker POSCO, on Wednesday said that its third-quarter operating profit dropped 71 percent as some of its steel-processing facilities remain shuttered after a typhoon. Its operating income stood at 900 billion won (US$633 million) in the July-September period, compared [...]
SEOUL, Oct. 18 (Korea Bizwire) — LG Electronics Inc. is speeding up efforts to gain a stronger foothold in the logistics robot market on the back of its next-generation self-driving logistics robot, CLOi CarryBot. The tech giant recently announced that it had signed a memorandum of understanding with artificial intelligence (AI) startup FASSTO to promote [...]
SEOUL, Oct. 13 (Korea Bizwire) — South Korean shipyard Daewoo Shipbuilding & Marine Engineering Co. (DSME) said Thursday it has signed a business tie-up agreement with a U.S. energy company on the development of technologies for a large liquid hydrogen carrier. The deal with CB&I, a unit of U.S. energy engineering and construction solutions provider [...]
SEOUL, Oct. 10 (Korea Bizwire) – Hyundai Mobis Co., South Korea’s leading auto parts maker, said Monday it will promote an advanced in-vehicle infotainment (IVI) system jointly developed with a Swiss company for next-generation vehicles. Hyundai Mobis and Luxoft are “at the final stage” of developing the IVI platform for future vehicles and will introduce [...]
SEOUL, Oct. 7 (Korea Bizwire) — LG Energy Solution Ltd., South Korea’s top battery maker, said Friday it racked up a turnaround in the third-quarter of the year from a year earlier on the back of the weakness of the Korean currency against the U.S. dollar and robust sales. Its operating profit reached 522 billion [...]
SEOUL, Oct. 7 (Korea Bizwire) — Motional, a joint venture set up between Hyundai Motor Co. and U.S. mobility startup Aptiv, said Friday it has signed a 10-year deal to supply Hyundai’s IONIQ 5-based autonomous vehicles to Uber Technologies Inc. Under the deal, Motional will supply the all-electric IONIQ 5 driverless robo taxis to the [...]
SEOUL, Oct. 7 (Korea Bizwire) — Samsung Electronics Co. said Friday its preliminary third-quarter operating profit declined by nearly 32 percent from a year earlier, as the company has faced macroeconomic headwinds that weakened consumer demand for electronic devices. The world’s largest memory chip and mobile phone maker said its operating profit for the three [...]