SEOUL, Nov. 2 (Korea Bizwire) – Samsung SDI Co., a South Korean battery maker, said Tuesday its third-quarter net profit jumped 74.7 percent from a year earlier backed by robust sales in electric vehicle (EV) batteries. Net income reached 420.4 billion won (US$357.6 million) in the July-September period, compared with 240.6 billion won from a [...]
SEOUL, Nov. 2 (Korea Bizwire) — South Korean internet-only banks said Tuesday their third-quarter profits sharply increased on robust growth in customers and deposits. K-Bank, controlled by a consortium of telecom giant KT Corp., Woori Bank and 19 other companies, saw its third-quarter earnings more than double from three months earlier. Net profit came to [...]
SEOUL, Oct. 29 (Korea Bizwire) — SK Innovation Co. said Friday it turned to the black in the third quarter from a year earlier on strong sales in its lubricant oil and battery businesses amid reviving demand after a pandemic-driven slump. The energy and chemical subsidiary of SK Group, South Korea’s No. 3 conglomerate, reported [...]
Business aircraft revenues of $1.4 billion, up 17% year-over-year, mainly driven by an improved delivery mix and continued strong aftermarket recovery as overall fleet flight hours surpass 2019 levels. Adjusted EBITDA(1) of $142 million (9.8% adjusted EBITDA margin(1)), representing a year-over-year improvement of $58 million or 69% reflecting continued progress on the Global 7500 aircraft’s learning curve, cost structure improvements and an improved [...]
SEOUL, Oct. 28 (Korea Bizwire) — LG Electronics Inc. said Thursday its net profit dropped 20.4 percent on-year in the third quarter due to costs incurred in a recall of General Motor’s Bolt electric vehicles. The South Korean tech giant said in a regulatory filing that net income came to 516.5 billion won (US$440 million) [...]
SEOUL, Oct. 28 (Korea Bizwire) — Samsung Electronics Co. on Thursday reported strong third-quarter earnings on the continued robust performance of its key semiconductor business, which took up 64 percent of the total operating profit. Its net profit rose 31.3 percent from a year earlier to 12.29 trillion won (US$10.5 billion) in the July-September period, [...]
The Hague, Oct. 28 (Korea Bizwire) – “This quarter we’ve generated record cash flow, maintained capital discipline and announced our intention to distribute $7 billion to our shareholders from the sale of our Permian assets. Today, we also set a new 2030 target to halve the absolute emissions from our operations, compared to 2016 levels on [...]
SEOUL, Oct. 27 (Korea Bizwire) — Kia Corp., South Korea’s second-biggest carmaker, said Wednesday its third-quarter net profit rose sharply due to a lack of one-off costs, but chip shortages remain a major concern for the carmaker. Net profit for the three months ended in September jumped more than eightfold to 1.135 trillion won (US$970 [...]
SEOUL, Oct. 27 (Korea Bizwire) — LG Display Co., South Korea’s major display panel maker, said Wednesday that its third-quarter net income surged 4,067.5 percent from a year earlier to 463.5 billion won (US$396.1 million), largely driven by strong demand and profitability of its OLED business. Operating income jumped 221.8 percent to 528.9 billion won [...]
SEOUL, Oct. 26 (Korea Bizwire) — South Korea’s Hyundai Motor Co. on Tuesday achieved a turnaround in the third quarter from a year earlier on a base effect but revised down its annual sales target due to chip shortages. For the three months ended on Sept. 30, Hyundai Motor swung to a net profit of [...]