SEOUL, Feb. 10 (Korea Bizwire) — Kakao Corp., the operator of the country’s top mobile messenger, said Friday its 2022 net income fell 38 percent due to a base effect. The company’s net profit totaled 1.02 trillion won (US$810.2 million) on a consolidated basis in 2022, compared with a profit of 1.64 trillion won a [...]
SEOUL, Feb. 9 (Korea Bizwire) — KT Corp., South Korea’s No. 2 wireless carrier, said Thursday its net profit declined last year from a year earlier due to a higher base effect. KT’s net income amounted to 1.38 trillion won (US$1.1 billion) on a consolidated basis in 2022, down 4.9 percent from the previous year’s [...]
SEOUL, Feb. 8 (Korea Bizwire) — South Korean internet-only kakaobank said Wednesday that its net profit hit an all-time high last year thanks to increased interest income. Its net profit came to 263.1 billion won (US$208.5 million) in 2022, up 28.9 percent from the previous year, the lender said in a regulatory filing. Its revenue [...]
SEOUL, Feb. 8 (Korea Bizwire) — Kakao Games Corp., the gaming unit of South Korean tech giant Kakao Corp., said Wednesday it swung to the red last year due to increased spending involving its investment in a local game developer. Kakao Games logged a net loss of 164.2 billion won (US$130.6 million) on a consolidated [...]
SEOUL, Feb. 8 (Korea Bizwire) — SK Telecom Co., South Korea’s largest wireless carrier, said Wednesday its net profit dropped 60.8 percent last year from a year earlier due mainly to the exclusion of its equity gains from its chipmaking affiliate. The company logged a net profit of 947.8 billion won (US$754.6 million) on a [...]
SEOUL, Feb. 8 (Korea Bizwire) — Jeju Air Co., South Korea’s biggest low-cost carrier, said Tuesday it shifted to a net profit in the fourth quarter as eased COVID-19 restrictions unleashed pent-up travel demand. The budget carrier swung to a net profit of 17.4 billion won (US$14 million) for the three months ended Dec. 31 [...]
Fourth Quarter 2022 Highlights Product revenue of $540.1 million, up 43% year over year Service revenue of $742.9 million, up 27% year over year Total revenue of $1.28 billion, up 33% year over year Billings of $1.72 billion, up 32% year over year1 GAAP operating income of $357.8 million, up 66% year over year Non-GAAP operating income of $417.6 million, up [...]
SEOUL, Feb. 7 (Korea Bizwire) — SK Innovation Co. said Tuesday it plans to spend 7 trillion won (US$5.58 billion) in capital spending this year to shore up its loss-making battery business and aims to achieve a turnaround by next year. The amount earmarked for SK On Co. makes up the substantial portion of the [...]
SEOUL, Feb. 7 (Korea Bizwire) — Kakao Pay Corp., the online payment unit of South Korean tech giant Kakao Corp., said Tuesday it swung to the black last year thanks to increased financial income. Kakao Pay logged a net profit of 27.5 billion won (US$22 million) on a consolidated basis in 2022, turning from a [...]
SEOUL, Feb. 6 (Korea Bizwire) — SKC Co., a South Korean manufacturer of advanced materials, said Monday its operating profit declined 45.1 percent in 2022 from a year earlier, mainly weighed down by a spike in electricity bills and other costs. Operating profit reached 220.3 billion won (US$176.2 million) for the January-December period, compared with [...]