SEOUL– Celltrion Inc. on Wednesday reported its third-quarter net income of 166.9 billion won (US$122.3 million), up 18.2 percent from a year earlier. The company said in a regulatory filing that operating income for the July-September period rose 28.1 percent on-year to 213.8 billion won. Sales increased 60.6 percent to 645.6 billion won. … Read more
SEOUL– Ev Advanced Material Co.on Wednesday announced that it will sell stock to raise 36 billion won(US$26.4 million). The proceeds from the stock offering will be used primarily to pay off its debts. According to a regulatory filing, the company will issue 16.1 million common shares at a price of 2,235 won per share. … Read more
SEOUL– Coway Co. on Wednesday reported its third-quarter net income of 114 billion won (US$83.5 million), down 16.5 percent from a year earlier. The company said in a regulatory filing that operating income for the July-September period rose 0.8 percent on-year to 165.1 billion won. Revenue increased 3.8 percent to 969.8 billion won. … Read more
SEOUL– The crash of a South Korean F-4E fighter jet in August was caused by an engine nozzle problem, the Air Force said Wednesday. It announced the outcome of its probe into the cause of the crash of the aircraft, introduced in 1979, into western waters at around 12:20 p.m. on Aug. 12. Two … Read more
SEOUL– Opposition leader Lee Jae-myung on Wednesday called for President Yoon Suk-yeol to apologize after his aides came under fire over an inappropriate memo that opposition lawmakers claimed was seen as demeaning a parliamentary audit session on the Itaewon crowd crush. Kim Eun-hye, senior presidential secretary for press affairs, and Kang Seung-kyoo, senior presidential … Read more
SEOUL– South Korean stocks extended their winning streak to a fourth day Wednesday with investors paying keen attention to the U.S. midterm election results. The Korean won surged against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) gained 25.37 points, or 1.06 percent, to close at 2,424.41 points. Trading volume … Read more
SEOUL– A retrospective exhibition on Korea-born video art pioneer Paik Nam-june (1932-2006) will open this week to showcase his essential artworks and shed light on his broad influence on contemporary Korean art. The special exhibition “Paik Nam June Effect” will run from Nov. 10 to Feb. 26 at the National Museum of Modern and … Read more
SEOUL– The South Korean currency rose for the fourth straight session and hit a two-month high Wednesday on hopes that the U.S. Federal Reserve could slow the pace of rate increases and China might ease up on its long-held tight coronavirus restrictions, market watchers said. The local currency ended at 1,364.80 won Wednesday, up … Read more