SEOUL– NH Investment & Securities Co. on Thursday reported its third-quarter net income of 11.9 billion won (US$8.4 million), down 94.4 percent from a year earlier. The company said in a regulatory filing that operating profit for the July-September period fell 76.6 percent on-year to 68.5 billion won. Revenue increased 49 percent to 3.72 … Read more
SEOUL– Prime Minister Han Duck-soo and visiting Tanzanian Prime Minister Kassim Majaliwa held talks on Thursday during which they discussed measures to deepen bilateral economic relations. During the talks, Han asked Majaliwa to help South Korean firms expand their presence in the East African nation through new projects in shipbuilding, railway and information technology, … Read more
SEOUL– South Korea’s science minister on Thursday unveiled plans to build a state-run biofoundry, an integrated biomanufacturing platform, in a bid to expand the country’s presence in the prominent sector. “We will create a biofoundry, where designing and manufacturing vaccines and medicine take place simultaneously,” Lee Jong-ho, the minister of science and ICT, said … Read more
SEOUL– South Korea recorded US$13 billion worth of arms exports in the first nine months of this year, Seoul’s defense chief said Thursday in a report to President Yoon Suk-yeol. Defense Minister Lee Jong-sup said defense exports so far this year have created an overall economic effect worth 38 trillion won (US$26 billion), briefing … Read more
SEOUL– Samsung Electronics Co. on Thursday posted a sharp drop in profits for the third quarter, as its main semiconductor business faced major headwinds from weakening memory chip prices and demand. The world’s largest memory chip and mobile phone maker said in a regulatory filing its third-quarter net profit declined 23.6 percent from a … Read more
SEOUL– LG Household & Health Care Ltd., a major South Korean cosmetics and household goods maker, said Thursday its net profit plunged 46.8 percent in the third quarter from a year earlier due to a persistent slump in its China business. Net income amounted to 127.4 billion won (US$89.9 million) on a consolidated basis … Read more
INCHEON– A court on Thursday handed out a life sentence and a 30-year prison term to a woman and her boyfriend accused in the high-profile drowning death of her husband in 2019 for a hefty life insurance payout. The Incheon District Court delivered the sentences to Lee Eun-hae, 31, and her extramarital lover, Cho … Read more
SEOUL– South Korean stocks rose for the second straight day Thursday on hopes that the U.S. Federal Reserve may slow down its aggressive monetary tightening. The local currency gathered ground against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) soared 39.22 points, or 1.74 percent, to close at 2,288.78. Trading volume … Read more