Category: Business

GM Korea’s July sales dip 45 pct on parts shortage

SEOUL– GM Korea Co. said Monday its sales fell 45 percent last month from a year earlier due to parts shortages and the extended COVID-19 pandemic.The South Korean unit of General Motors Co. sold 19,215 vehicles in July, down from 34,632 units the pre…

July exports set fresh high on chips, autos

SEOUL– South Korea’s exports jumped 29.6 percent on-year in July to a record high, extending their gains to a ninth consecutive month as the global economy maintained a recovery, data showed Sunday.Outbound shipments came to US$55.4 billion last month…

Hyosung Q2 net income up 409.7 pct to 187.4 bln won

SEOUL– Hyosung Corp. on Friday reported its second-quarter net profit of 187.4 billion won (US$162.9 million), up 409.7 percent from a year earlier.The company said in a regulatory filing that it posted 218 billion won in operating profit for the quar…

Hotel Shilla shifts to black in Q2

SEOUL– Hotel Shilla Co. on Friday reported its second-quarter net profit of 12 billion won (US$10.5 million), swinging from a loss of 67.7 billion won a year earlier.Operating income for the April-June period was 46.4 billion, compared with a loss of …

Samsung Heavy Industries reduces net loss in Q2

SEOUL– Samsung Heavy Industries Co. said Friday that it narrowed its net loss in the second quarter from a year earlier thanks to increased sales.Its net loss reached 447.4 billion won (US$388.9 million) in the second quarter from 704.3 billion won a …

US Seizes Tanker Used to Deliver Oil to North Korea

The United States seized a Singapore-owned oil tanker Friday that was used to make illegal oil deliveries to North Korea, the Justice Department said.A New York federal judge issued a judgment of forfeiture authorizing the United States to take ownersh…

LG Innotek Q2 net soars on sales of high value-added products

SEOUL– LG Innotek Co., a major electronics components maker in South Korea, on Thursday reported solid second-quarter earnings results on the back of increased sales of high value-added products.The affiliate of LG Group reported a nearly 20-fold on-y…

DL Holdings Q2 net income up 139.1 pct to 450.6 bln won

SEOUL– DL Holdings Co. on Thursday reported its second-quarter net profit of 450.6 billion won (US$393 million), up 139.1 percent from a year earlier.The company said in a regulatory filing that operating profit for the April-June period rose 125.6 pe…

Seoul stocks up for 3rd day on robust corporate earnings

SEOUL– South Korean stocks rose for the third consecutive session Thursday as investor sentiment improved on optimism for strong corporate earnings and the U.S. Fed’s assurance that tapering would require more economic recovery from the pandemic. The …

S. Korean Bond Yields on Jul. 29, 2021

Today (%) Previous Session(%) Change (BP)1-year TB 0.941 0.934 +0.72-year TB 1.263 1.259 +0.43-year TB 1.431 1.419 +1.210-year TB 1.889 1.862 +2.72-year MSB 1.280 1.272 +0.83-year CB (AA-) 1.862 1.853 +0.991-day CD 0.700 0.700 0.0Source: Yonhap News Ag…