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Monday, September 16, 2024

BUSINESS

Major automakers team up for EV charging, challenge Tesla

Hyundai Motor is partnering with six major global automakers for a massive charging network in North America to counter Tesla’s Superchargers. The Korean automaker said...

HD Hyundai reports 61.8% drop in operating profit

HD Hyundai reported a 61.8 percent decline in operating profit compared to the same period last year, posting 472.6 billion won ($369.94 million) as...

LG Electronics sees operating profit decrease to $580M

LG Electronics reported a 6.3 percent decrease in operating profit on year to hit 741.9 billion won ($580 million) in the April-June period, primarily...

Hyundai Motor reaps record $3.3 billion profit in Q2

Hyundai Motor posted another all-time high operating profit of 4.24 trillion won ($3.32 billion) for the April-June period, up 42.2 percent on year, driven...

Kakao employees protest handling of recent layoffs

Unionized workers of Kakao staged a protest on Wednesday in front of the tech company's Pangyo headquarters in Gyeonggi, demanding executives take responsibility for...

Posco Int’l inks oil and gas contract with Indonesia

Posco International and Indonesia’s state-run Pertamina Hulu Energi (PHE) signed a production-sharing agreement with the Indonesian government for an offshore oil and gas field...

IMF trims Korea’s 2023 growth forecast to 1.4 percent

International Monetary Fund lowered Korea’s growth outlook by 0.1 percent to 1.4 percent for this year in its latest forecast released Tuesday despite an...

Watchdog issues warnings to Chinese banks in Korea

The financial watchdog warned Chinese banks operating in Korea over their violation of duty in reporting corporate information. The Financial Supervisory Service (FSS) informed the...

Netflix’s password sharing crackdown to hit Korea

Netflix’s crackdown on password sharing is making its way toward Korea, with a growth in both revenue and subscriber numbers that the streaming giant...

Korean orders accelerate for Tesla’s low-price Model Y

Tesla’s unconventional low-price strategy seems working in Korea so far, with surging orders of the latest Shanghai-made Model Y. Over 20,000 orders have been made...