SEOUL, Oct. 25 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Wednesday its third-quarter net profit more than doubled from a year earlier on strong demand in the United States and U.S. government’s tax credits. Net profit for the three months ended in September soared to 420.5 billion won [...]
SEOUL, March 16 (Korea Bizwire) — Banks in South Korea saw their combined net profit surge about 40 percent in 2021 thanks to increased interest income from the central bank’s rate hikes, data showed Wednesday. The combined net profit of 20 local banks came to 16.9 trillion won (US$13.6 billion) in 2021, up 39.4 percent [...]
SEOUL, Oct. 31 (Korea Bizwire) — Samsung Electronics Co. on Tuesday said its third-quarter net profit more than doubled on-year, mainly led by strong returns from its chip business amid an industrywide boom. Net profit came to 11.1 trillion won (US$9.87 billion), jumping from 4.53 trillion won posted a year earlier, the company said through [...]
SEOUL, Oct. 27 (Korea Bizwire) – South Korea’s No. 2 automaker Kia Motors Corp. said Thursday that its third quarter net profit jumped 20.8 percent from a year earlier despite a slight drop in sales. In the July-September period, Kia Motors’ net profit came to 664.3 billion won (US$583.23 million) on a consolidated basis, compared [...]
“Automobiles are evolving in the display, communications, electronics and analog, and mechanical compressor sectors through intellectualization and convergence. We expect meaningful opportunities in the sector in the near future.” “When it comes to convergence, we see much opportunity and growth potential. We expect that some products in the vehicle components sector can bring results. We [...]
SEOUL, July 30 (Korea Bizwire) — Samsung Electronics reported a near 8 percent drop in second-quarter net profit Thursday as its smartphone business continued to suffer in the face of stiff competition from Chinese rivals. Net income came to 5.75 trillion won (US$4.95 billion) in the April-June period, 7.97 percent down from 6.25 trillion won a [...]
SEOUL, April 20 (Korea Bizwire) – Korea’s two largest business groups, Samsung Group and Hyundai Motor Group, accounted for a significant portion of the net profits of the top 30 groups in Korea, by generating more than four fifths of their total earnings. Korea generally categorizes the top 30 business groups as representing the Korean economy, [...]
SEOUL, March 12 (Korea Bizwire) – Commission income and asset sales boosted net profit for South Korean credit card companies in 2014, the financial watchdog said Thursday. The combined net earnings of eight credit card firms stood at 1.8 trillion won (US$1.6 billion) last year, up 5 percent from the previous year, according to the [...]