SEOUL, Sept. 22 (Korea Bizwire) – South Korean companies suffered a setback in sales, but their profitability improved in the second quarter compared to a year earlier, central bank data showed Thursday. Combined sales in local firms with assets worth over 12 billion won (US$10 million) fell 1.9 percent in the April-June period from a [...]
SEOUL, Aug. 17 (Korea Bizwire) – The operating profit of automakers and their vendors in South Korea came in at a disappointing level last year with each firm making only about US$0.05 for every $1 in sales, industry data showed Wednesday. According to the data compiled by a local research institute, combined sales of 1,079 [...]
SEOUL, July 28 (Korea Bizwire) – Samsung Electronics Co. reported its biggest quarterly operating profit in more than two years Thursday, boosted by robust sales of its latest premium smartphone and cost-cutting efforts. The world’s largest maker of smartphones and semiconductors earned 8.14 trillion won (US$7.19 billion) in the April-June period, up 18.06 percent from the [...]
SEOUL, July 27 (Korea Bizwire) – Kia Motors Corp., South Korea’s No. 2 automaker, said Wednesday that its second-quarter net income surged over 10 percent from a year earlier on a large increase in sales. Net profit came to 825.7 billion won (US$727 million) in the April-June period, up 10.6 percent from the same period [...]
SEOUL, July 7 (Korea Bizwire) – South Korea’s top tech firm Samsung Electronics Co. estimated Thursday that its second-quarter operating income increased more than 17 percent from a year earlier on the back of robust sales of its flagship smartphones such as the Galaxy S7 series. Operating profit is estimated at 8.1 trillion won (US$6.98 [...]
SEOUL, July 4 (Korea Bizwire) – The Korean Financial Supervisory Service (FSS) revealed Monday that it will implement a ‘deliberation policy’ in which an investor will be required to take time before making a final decision to invest in high-risk financial products. The policy will take effect as early as this coming August. Currently, citizens [...]
SEOUL, Jan. 8 (Korea Bizwire) – South Korean tech giant Samsung Electronics Co. reported forecast-missing quarterly profit on Friday as sales of smartphones and memory chips remained sluggish. Samsung said it probably posted an operating profit of 6.1 trillion won (US$5.08 billion) in the October-December period, up 15.3 percent from the 5.2 trillion won a [...]