LG Chem Ltd., South Korea's leading chemicals firm, said Monday that it swung to a loss in the fourth quarter from a year earlier due to one-off costs related to energy storage systems (ESS).The net loss stood at 56.8 billion won (US$47.5 million) in the three months that ended Dec. 31 from a net pr
The new coronavirus-triggered angst appears to be spilling over to the Korean corporate realm as the global supply chain is feared to face some disruptions amid the rapid spread of the novel coronavirus in China, industry watchers said Sunday.With the new coronavirus killing more than 300 people in
South Korea enjoyed a surplus of US$71.5 billion in trade with free trade agreement (FTAs) partners in 2019, data showed Thursday.The country suffered a deficit of $32.4 billion from trade with non-FTA partners, according to the data compiled by the Korea Customs Service. Last year, South Korea post
Kim Ji-young, CEO of Daolglobal, which delivers Korea’s “beauty” to the world, said she wants to spread Korea’s unique gorgeous to global. DaolGlobal hopes to go beyond simple overseas trade to create a platform for Korean culture to be exchanged more actively with the world. Kim Ji-young has been w
South Korea's top internet portal operator Naver Corp. said Thursday that its net profit plunged 36.8 percent in 2019 from a year earlier because of heavy outlays in new business sectors.Net profit reached 396.8 billion won (US$337.1 million), compared with 636.4 billion won tallied in the previous
Samsung Electronics Co. said Thursday its fourth-quarter net profit dropped 38.2 percent compared with a year ago as an extended slump in the memory chip sector weighed on its bottom line.The world's leading memory chip and smartphone manufacturer said its net income stood at 5.23 trillion won (US$4
South Korea's exports are expected to drop 7.5 percent on-year in January to extend their slump to 14 consecutive months despite a mild recovery in chip shipments, a poll showed Wednesday, due mainly to there being fewer working days compared to a year earlier.Outbound shipments are estimated to rea
Samsung Electronics Vice Chairman Lee Jae-yong is on a tour to Brazil to check the South Korean tech giant's business plans for the Latin American market, the company said Tuesday.Lee, the de facto leader of Samsung Group, visited Samsung Electronics' manufacturing plant in Manaus, Amazonas, in nort
South Korea said Tuesday it plans to hold the fifth round of talks with the Philippines on a bilateral free trade agreement (FTA) this week, with a goal of concluding the deal this year.During the three-day negotiation that begins in Manila on Wednesday, the two countries plan to set details of the
Major South Korean companies are scrambling to minimize any possible fallout from the Wuhan coronavirus by pulling their staff out of China and curbing trips there, industry sources said Tuesday.South Korean steelmaker POSCO said it will ensure that its four employees in Wuhan, the capital city of H
Samsung Engineering Co., South Korea's largest industrial plant builder, said Tuesday it has clinched a US$1.85 billion order to build gas facilities in Saudi Arabia.Under a deal with Saudi Aramco on Thursday, Samsung Engineering will build a gas facility capable of storing 1.5 billion cubic feet pe
South Korean electronics giant Samsung Electronics Co. had the third-largest market share in India's smartphone market in the fourth quarter last year, slipping down a notch as Chinese products expanded their presence, data showed Monday.Samsung accounted for 19 percent of the Indian smartphone mark
Samsung Electronics Co.'s new foldable smartphone to be unveiled next month may be priced under 2 million won (US$1,710), industry sources said Thursday, as the South Korean tech giant eyes attracting more consumers over its global rivals.Samsung's clamshell-type foldable phone, supposedly known as
Kia Motors Corp. said its fourth-quarter earnings more than tripled from a year earlier on an improved product mix and a weak won.Net profit for the October-December period soared to 346.4 billion won (US$297 million) from 94.3 billion won a year ago, the company said in a statement."Increased sales
Ultrafine dust in the capitals of South Korea and China is made up of similar components, most coming from automotive emissions and coal power plants, joint research by the two countries showed Wednesday.According to the research released by the Korea-China Air Quality Joint Research Team, ultrafine
Hyundai Glovis Co., a logistics unit of Hyundai Motor Group, said Wednesday its fourth-quarter net profit rose 71.4 percent from a year earlier.Net profit for the three months ending Dec. 31 rose to 229.5 billion won (US$197 million) from 133.9 billion won a year earlier, the company said in a regul
Samsung Electronics Co. on Tuesday announced the promotion of executives in a follow-up to the recent reshuffle of its major business heads.Samsung said 162 executives earned promotions in the annual reshuffle, with 14 moving up to executive vice president positions.Twenty four executives got early
South Korea's two tech giants: Samsung Electronics Co. and LG Electronics Inc. said they will unveil their new home appliance products at a U.S. trade show for the kitchen and bath market, highlighting their built-in design and artificial intelligence (AI) solutions.Samsung and LG are among the 600
outh Korea said Tuesday it will prepare fully to maintain its trade with Britain amid London's planned departure from the world's largest economic bloc.During a meeting with officials from the British Embassy in Seoul, Chun Yoon-jong, director general for free trade agreement policy at South Korea's
The delinquency rate for South Korean banks' won-denominated loans edged up in November from a month earlier due to a slight hike in bad loans extended to firms and households, data showed Tuesday.The rate for bank loans more than 30 days overdue stood at 0.48 percent at the end of November, up 0.02