SEOUL, July 14 (Korea Bizwire) — SK On Co.’s electric vehicle (EV) battery joint venture with Ford Motor Co. in the United States has formally set sail, the South Korean battery maker said Thursday, paving the way for SK’s new battery unit to accelerate its overseas push amid burgeoning EV demand. The official launch of [...]
SEOUL, July 12 (Korea Bizwire) — Samsung Electronics Co., the world’s top memory chip maker, saw its DRAM sales fall in the first three months of the year for a second quarter on weaker prices and other negatives, but the company retained its top spot in the global market, data showed Tuesday. Samsung’s DRAM revenue [...]
SEOUL, July 12 (Korea Bizwire) — Samsung Electronics Co. said Monday it will launch the Ramen Duction campaign using its BESPOKE induction cooktop in collaboration with instant noodle maker Nongshim Co. As part of the campaign, the two companies will launch a variety of souvenir events and showcase a jointly developed SCanCook simple cook function. [...]
SEOUL, July 11 (Korea Bizwire) — Tving, the South Korean online streaming service provider run by entertainment giant CJ ENM, saw its mobile users rebound last month on the back of the launch of a new service with U.S. streamer Paramount+, industry data showed Monday. The number of its monthly mobile users reached 4.02 million [...]
SEOUL, July 8 (Korea Bizwire) — SK Telecom Co., South Korea’s largest wireless carrier, said Thursday that it will launch a program with its chipmaking affiliate SK hynix Inc. to share their practical knowledge and know-how in the areas of semiconductors and artificial intelligence (AI) with local universities. The two companies will establish an online [...]
SEOUL, July 7 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. said Thursday it expects its second-quarter operating profit to shrink sharply from a year earlier due to global supply disruptions and China’s COVID-19 lockdowns. The company estimated operating income for the April-June period at 195.6 billion won (US$150.5 million), down 73 [...]
SEOUL, July 7 (Korea Bizwire) — South Korea’s cosmetic exports posted a record-high amount, surpassing the 10 trillion-won mark for the first time in history, data showed Thursday. According to the Ministry of Food and Drug Safety, South Korea’s cosmetic exports grew 21.3 percent from the previous year and reached 10.5 trillion won (US$8.1 billion). [...]
SEOUL, July 7 (Korea Bizwire) — LG Electronics Inc. on Thursday estimated its second-quarter operating profit decreased 12 percent year-over-year on weaker demand for TV and home appliances amid rising inflation and raw material costs. Its earnings guidance for the April-June period showed the tech company’s operating profit declined 12 percent from a year ago [...]
SEOUL, July 7 (Korea Bizwire) — Samsung Electronics Co. said Thursday it is likely to report its best second-quarter earnings in four years on the back of solid chip demand. In its earnings guidance, the South Korean tech giant estimated its operating profit at 14 trillion won (US$11 billion) for the April-June period, up 11.38 [...]
SEOUL, July 7 (Korea Bizwire) — POSCO International Corp., a unit of South Korean steel giant POSCO Holdings Inc., said Thursday it has begun the construction of an electric vehicle (EV) parts plant in Mexico as it pushes to expand its EV-related business. The driving motor core-producing plant in Ramos Arizpe in the state of [...]