SEOUL, July 27 (Korea Bizwire) – Daesang Life Science, a South Korean manufacturer of health functional foods, said Wednesday it has inked a letter of intent with China Sinopharm International to set up a joint venture in a bid to make forays into the Chinese market. The two companies plan to build a factory in [...]
SEOUL, July 27 (Korea Bizwire) — LG Energy Solution Ltd. (LGES) said Wednesday it aims to boost annual sales by more than threefold and achieve double-digit operating profit margins in the next five years through active foreign expansion and by securing stable supply. Unveiling the mid-to long-term strategies, the South Korean battery maker said it [...]
SEOUL, July 27 (Korea Bizwire) — SK hynix Inc. said Wednesday it logged record quarterly sales and the best second-quarter operating profits in four years, driven by the sales of NAND flash and positive currency effects. The world’s second-largest memory chip maker reported its second-quarter net income of 2.87 trillion won (US$2.2 billion), up 44.7 [...]
SEOUL, July 24 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Corp. recorded robust on-year sales growth in Vietnam and Indonesia in the first half of 2022, delivering strong performances in the markets traditionally dominated by Japanese automakers, local industry associations’ data showed Sunday. The combined sales of Hyundai Thanh Cong Manufacturing Vietnam [...]
SEOUL, July 22 (Korea Bizwire) — Kia Corp., South Korea’s second-biggest carmaker, said Friday its second-quarter net profit jumped 40 percent from a year earlier on an improved product mix and a weak won. Net profit for the three months ended in June rose to 1.88 trillion won (US$1.43 billion) from 1.34 trillion won in [...]
SEOUL, July 22 (Korea Bizwire) — South Korean battery maker SK On Co. said Friday it has partnered with Ford Motor Co. and a domestic cathode firm to jointly invest in a cathode materials production facility in the United States. SK On said it it has recently signed a letter of intent with Ford and [...]
SEOUL, July 21 (Korea Bizwire) — POSCO Holdings Inc., the holding company of South Korea’s top steelmaker, said Thursday its second-quarter net profit almost stayed flat from a year earlier amid soaring material prices and robust performance at its non-steelmaking affiliates. Its net profit stood at 1.8 trillion won (US$1.38 billion) on a consolidated basis [...]
SEOUL, July 21 (Korea Bizwire) — South Korea’s Hyundai Motor Co. said Thursday its second-quarter net profit jumped 56 percent from a year earlier on improved product mix and a weak won. Net profit for the three months ended in June rose to 3.08 trillion won (US$2.34 billion) from 1.98 trillion won during the same [...]
SEOUL, July 19 (Korea Bizwire) — Hyundai Motor Group said Tuesday it has signed an initial pact with Rolls-Royce to jointly develop an advanced air mobility (AAM) at Britain’s international air show. The partnership is aimed at bringing all-electric propulsion and hydrogen fuel cell technology to the AAM market, Hyundai said in a statement. Hyundai [...]
SEOUL, July 17 (Korea Bizwire) — Samsung Electronics Co. said Sunday its accumulated wind-free air conditioner sales have exceeded 7 million units in the domestic market since its launch six years ago. Samsung launched the “no-wind” air conditioner for the first time in the world in 2016 and has expanded its lineup of the product [...]