SEOUL, July 26 (Korea Bizwire) — SK hynix Inc. said Wednesday it logged losses for three quarters in a row as a demand slump continued amid macroeconomic woes, but it called the bottom on the chip market. The world’s second-largest memory chip maker said in a regulatory filing its operating losses amounted to 2.88 trillion [...]
SEOUL, July 24 (Korea Bizwire) — South Korea’s top steelmaker POSCO Holdings Inc. said Monday its second-quarter earnings tumbled nearly 56 percent on-year amid sluggish sales. Consolidated net profit came to 800 billion won (US$621.4 million) in the April-June period, down 55.6 percent from a year earlier, the company said in a regulatory filing. Sales [...]
SEOUL, July 24 (Korea Bizwire) — POSCO Future M Co. said Monday its second-quarter operating profit fell 5.6 percent from a year earlier, while unveiling a plan to spend over 680 billion won (US$529 million) to expand its manufacturing facility for a key electric vehicle (EV) battery material. Operating income reached 52.1 billion won in [...]
SEOUL, July 18 (Korea Bizwire) — POSCO Holdings Inc. on Tuesday reported that its second-quarter operating profit had narrowly exceeded expectations due to “normalized” sales and higher product prices. Its consolidated operating income came to 1.3 trillion won (US$1 billion) for the April-June period, down 38.1 percent from a year earlier, South Korea’s top steelmaker [...]
SEOUL, July 4 (Korea Bizwire) — SK Square, a non-telecom spinoff of SK Telecom Co., announced on Tuesday that it would form a partnership with SK hynix Inc., Shinhan Financial Group Co., and LIG Nex1 Co. to establish TGC Square, an investment corporation for foreign chipmakers. The consortium aims to raise 100 billion won (US$76.8 [...]
SEOUL, July 4 (Korea Bizwire) — Samsung Biologics Co., the biotech arm of South Korea’s Samsung Group, said Monday it has sealed a combined US$1.08 billion partnership contracts with U.S. pharmaceutical giant Pfizer so far this year. The Korean company said it signed a new contract with Pfizer, a follow-up to the bilateral deal set [...]
SEOUL, May 23 (Korea Bizwire) —In a recent development, SK On, the Seoul-based battery manufacturer currently engaged in a joint venture with Ford Motor Company in the United States, has expressed unease regarding Ford’s announcement regarding the procurement of its own raw materials. SK On denies having engaged in any discussions with Ford regarding the [...]
SEOUL, May 21 (Korea Bizwire) —As South Korean companies continue their digital transformation campaigns, cloud services are playing a pivotal role in driving revenue growth within the telecom sector. In the first quarter, cloud services made significant contributions to the revenue growth of SK Telecom and KT, according to industry reports. SK Telecom’s enterprise revenue, [...]
SEOUL, May 15 (Korea Bizwire) — HMM Co. said Monday its first-quarter earnings tumbled more than 90 percent on-year on sluggish shipping rates amid decreased cargo volume. Net profit came to 285.3 billion won (US$214 million) in the January-March period, down 90.9 percent from a year earlier, South Korea’s top container shipper said in a [...]
SEOUL, May 11 (Korea Bizwire) — Lotte Chemical Corp. said Thursday it expects to generate at least 7 trillion won (US$5.26 billion) in annual revenue from its secondary battery components segment by 2030, as the recent acquisition of a local copper foil maker and other projects for a green transition will take hold. “We think [...]