SEOUL, Aug. 14 (Korea Bizwire) — K-Bank, a South Korean internet-only bank, reported Monday that its second-quarter net income dropped 31 percent from a year earlier on increased loan-loss reserves. Net income stood at 14.7 billion won (US$11 million) in the April-June period, compared with a net profit of 21.3 billion won a year earlier, [...]
SEOUL, Aug. 11 (Korea Bizwire) — South Korea’s top instant noodle maker Nongshim Co. said Friday its net profit jumped more than 60 percent in the second quarter from a year earlier largely thanks to stronger demand for instant noodles amid high inflation and growth in overseas markets. Net profit for the three months ended [...]
SEOUL, Aug. 10 (Korea Bizwire) — SK Biopharmaceuticals Co., a biopharmaceutical affiliate of SK Group, said Thursday its net loss narrowed in the second quarter from a year earlier thanks to stellar overseas sales of its flagship epilepsy medication. Its net deficit for the April-June period reached 23.3 billion won (US$17.7 million) on a consolidated [...]
SEOUL, Aug. 9 (Korea Bizwire) — Coupang Inc. said Wednesday it swung to a net profit in the second quarter from a year earlier on improved profitability of its flagship product commerce business. South Korea’s top e-commerce retailer shifted to a net profit of US$145.2 million in the April-June period from a net loss of [...]
SEOUL, Aug. 8 (Korea Bizwire) — K-pop powerhouse Hybe Co. said Tuesday it posted over 1 trillion won (US$761.3 million) in sales in the first half of this year on the back of strong album and concert revenue, surpassing the milestone for the first time. The entertainment agency behind K-pop supergroup BTS, NewJeans and Seventeen [...]
SEOUL, Aug. 8 (Korea Bizwire) — SK Telecom Co., South Korea’s largest wireless carrier, said Tuesday its second-quarter net profit rose 35 percent year-over-year driven by a one-off profit related to its investment in a U.S mobility company. Net income came to 347.8 billion won (US$265.8 million) in the April-June period, up 34.8 percent from [...]
SEOUL, Aug. 8 (Korea Bizwire) — LG Uplus Corp., South Korea’s No. 3 mobile carrier, said Tuesday its second-quarter net profit rose nearly 32 percent from a year earlier, driven by its robust wireless business. Its net income amounted to 213.3 billion won (US$163.3 million) in the April-June period, up 31.7 percent from the year-ago [...]
SEOUL, Aug. 7 (Korea Bizwire) — KT Corp., South Korea’s No. 2 wireless carrier, said Monday its second-quarter net income jumped 19 percent from a year earlier thanks to robust sales in business-to-business operations. KT’s net profit reached 432.5 billion won (US$331.8 million) in the three months through June on a consolidated basis, up from [...]
SEOUL, Aug. 4 (Korea Bizwire) — South Korean internet portal giant Naver Corp. said Friday its second-quarter operating profit and revenue hit quarterly highs, driven by the robust performance of its commerce and content businesses. Its net profit rose more than 80 percent on an annual basis to 286.7 billion won (US$220.7 million), up 80.9 [...]
SEOUL, Aug. 3 (Korea Bizwire) — Kakao Corp., the operator of South Korea’s top mobile messenger, on Thursday said its second-quarter net profit dropped due to increased costs and investments. Its net profit reached 56.3 billion won (US$43.3 million) in the April-June period, down 44 percent from a year earlier, the company said in a [...]