SEOUL, Feb. 3 (Korea Bizwire) — South Korean internet portal giant Naver Corp. said Friday its net profit plunged in 2022 from a year earlier due to a one-off factor stemming from a business integration a year earlier. Its net income reached 664 billion won (US$544.1 million), down 96 percent from 16.5 trillion won tallied [...]
SEOUL, Feb. 3 (Korea Bizwire) — LG Uplus Corp., South Korea’s No. 3 mobile carrier, said Friday its 2022 net profit fell from a year earlier due to increased financial costs. Its net income reached 662.6 billion won (US$540.8 million) for 2022, down 8.5 percent from a year ago, the company said in a regulatory [...]
London, Feb. 2 (Korea Bizwire) [...]
SEOUL, Feb. 1 (Korea Bizwire) — SK hynix Inc. said Wednesday it swung to a deficit in the fourth quarter due to the global chip market’s slowdown amid weak demand and oversupply. The world’s second-largest memory chip maker logged an operating loss of 1.7 trillion won (US$1.37 billion) for the three months ending in December, [...]
SEOUL, Feb. 1 (Korea Bizwire) — Korean Air Co., South Korea’s biggest air carrier by sales, said Wednesday its net profit nearly tripled in 2022 from a year earlier as travel demand recovered amid eased COVID-19 virus curbs. The national flag carrier posted a net profit of 1.73 trillion won (US$1.4 billion) last year, up [...]
SEOUL, Jan. 31 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemicals producer, saw its profit shrink 40.4 percent in 2022 from a year earlier due mainly to sluggish petrochemical demand. Operating income reached 2.99 trillion won (US$2.43 billion) in the January-December period, compared with 5.02 trillion won logged the previous year, the company [...]
SEOUL, Jan. 31 (Korea Bizwire) — Samsung Electronics Co. reaffirmed Tuesday it has no plan to cut investment for this year despite disappointing earning results in the fourth quarter on a slump in demand. While unfavorable market conditions are expected to persist, “on the flip side, this is a great opportunity for us to prepare [...]
Jan. 30 (Korea Bizwire) Fourth-quarter highlights Group sales amounted to EUR 5.4 billion, with 3% comparable sales growth driven by component supply improvements, while Philips’ supply chain conditions remain challenging Comparable order intake decreased 8%, due to lower demand for COVID-19-related products compared to 2021 and company actions to improve the order book margin profile [...]
SEOUL, Jan. 30 (Korea Bizwire) — South Korean battery maker Samsung SDI Co. said Monday it posted record-high profit in 2022, driven by solid demand for electric vehicle (EV) batteries and energy storage systems (ESS). Operating income reached 1.8 trillion won (US$1.46 billion) last year, up 69.4 percent from the previous year’s 1.06 trillion won, [...]
SEOUL, Jan. 28 (Korea Bizwire) — Samsung Biologics Co., the biotech arm of South Korea’s Samsung Group, said Friday its 2022 net income more than doubled on strong overseas sales of its biomedicine products after its takeover of Samsung Bioepis Co. Its net income reached 798.1 billion won (US$648.1 million) in 2022, up 102.8 percent [...]