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Food Makers Enjoy Two-digit Profit Hike amid Social Distancing

Food Makers Enjoy Two-digit Profit Hike amid Social Distancing

SEOUL, May 18 (Korea Bizwire) — South Korean giant food manufacturers boasted two-digit profit growth in the first three months of this year on brisk demand for instant home meal products amid coronavirus-led social distancing, data showed Monday. In the January-March period, earnings of food conglomerate CJ Cheiljedang Corp. were 28 percent higher than brokerages’ [...]

‘Full-time’ Landlords Earn 2.79 mln Won a Month

‘Full-time’ Landlords Earn 2.79 mln Won a Month

SEOUL, Oct. 7 (Korea Bizwire) — It has been confirmed that as many as 18,000 “full-time” landlords make money by renting out apartments full-time, without any other job. According to data received by Rep. Park Hong-keun from the National Tax Service, the number of individuals that live off of rental income, or so-called ‘landlords’, came [...]

Micro Business Owners in S. Korea Earn US$2,407 per Month

Micro Business Owners in S. Korea Earn US$2,407 per Month

SEOUL, Feb. 27 (Korea Bizwire) — The average monthly operating profit among micro business owners in South Korea was 2.69 million won (US$2,407) in 2017. The average profit margin was 15.8 percent per month. Seven out of 10 micro business owners said sales had shrunk over the past year, while 4 out of 10 said [...]

POSCO Net Sinks 36 pct on Valuation Loss, Higher Taxation in 2018

POSCO Net Sinks 36 pct on Valuation Loss, Higher Taxation in 2018

SEOUL, Jan. 30 (Korea Bizwire) — POSCO, South Korea’s biggest steelmaker, said Wednesday that its net profit dropped 36 percent last year from a year earlier on a one-off valuation loss, reduced gains from asset sales and higher taxation. Net profit reached 1.89 trillion won (US$1.69 billion) on a consolidated basis, compared with a net [...]

Doosan Heavy Industries Trims Workforce as Profits Fall

Doosan Heavy Industries Trims Workforce as Profits Fall

SEOUL, Oct. 25 (Korea Bizwire) — Doosan Heavy Industries and Construction Co. (DHIC) is transferring employees to other subsidiaries and considering putting staff on paid leave as the company has been suffering from poor performance. The company announced on Wednesday that it is looking into the possibility of sending employees over to Doosan Corporation, Doosan [...]

Nasdaq Reports Second Quarter 2018 Results; Completes Divestiture; Delivers Strong Organic Revenue Growth

Nasdaq Reports Second Quarter 2018 Results; Completes Divestiture; Delivers Strong Organic Revenue Growth

NEW YORK, Jul. 25 (Korea Bizwire) —  Nasdaq, Inc. (Nasdaq:NDAQ) today reported financial results for the second quarter of 2018. Second quarter 2018 net revenues were $615 million, up $19 million, or 3%, from $596 million in the prior year period.  The second quarter increase in net revenues included a $40 million, or 7%, impact [...]

Sundance Energy Australia Limited Reports First Quarter 2018 Financial and Operational Results

Sundance Energy Australia Limited Reports First Quarter 2018 Financial and Operational Results

DENVER, May 16 (Korea Bizwire) — Sundance Energy Australia Limited (ASX:SEA) (NASDAQ:SNDE) (“Sundance” or the “Company”), a U.S. onshore oil and gas exploration and production company focused in the Eagle Ford in South Texas, reported its first quarter 2018 financial and operations results. First Quarter 2018 Financial Results Adjusted EBITDAX of $12.3 million, or 51.3 [...]