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Category: Finance

DL Holdings Q4 net income up 1922.4 pct to 58.9 bln won

February 3, 2023 admin Finance

SEOUL– DL Holdings Co. on Friday reported its fourth-quarter net income of 58.9 billion won (US$47.9 million), up 1922.4 percent from a year earlier.Operating income for the October-December period was 19.6 billion won, down 42.3 percent from a year a…

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Yoon meets with officials involved in nuclear power plant construction in UAE

February 3, 2023 admin Finance

SEOUL– President Yoon Suk Yeol on Friday met with a group of officials involved in South Korea’s construction of a nuclear power plant in the United Arab Emirates to learn from their experience and help promote the industry’s growth, his office said.T…

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KBS, 3 production staff referred to prosecution over fatal horse tripping during production

February 3, 2023 admin Finance

SEOUL– Police have referred KBS and three of its production crew members to the prosecution for further investigation and potential indictment on animal abuse charges related to the death of a horse during its television production, officials said Fri…

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N. Korea adopts law on protection of ‘state secret’

February 3, 2023 admin Finance

SEOUL– North Korea has adopted a new law aimed at safeguarding state secrets at a parliamentary meeting, its state media said Friday, amid apparent efforts to tighten internal discipline.The plenary meeting of the Standing Committee of the Supreme Peo…

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Export slump to continue through H1; inflation to slow in H2: finance minister

February 3, 2023 admin Finance

SEJONG– South Korea’s exports are anticipated to remain sluggish “at least” through the first six months of 2023, the finance minister said Friday, while inflation is expected to slow in the latter half.Finance Minister Choo Kyung-ho made the remark a…

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M-venture Investment to raise 15 bln won via stock sale

February 3, 2023 admin Finance

SEOUL– M-venture Investment Inc.on Friday announced that it will sell stock to raise 15 billion won (US$12.2 million). The proceeds from the stock offering will be used primarily to finance its operations.According to a regulatory filing, the company …

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Former FSC chief tapped as next chairman of Woori Financial Group

February 3, 2023 admin Finance

SEOUL– Woori Financial Group Inc. on Friday nominated former Financial Services Commission (FSC) chief Yim Jong-yong as its next chairman and CEO.The chairman nomination committee of the major financial holding firm picked Yim as the final candidate a…

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Hyundai Doosan Infracore Q4 net profit down 81.7 pct to 32.7 bln won

February 3, 2023 admin Finance

SEOUL– Hyundai Doosan Infracore Co. on Friday reported its fourth-quarter net profit of 32.7 billion won (US$26.6 million), down 81.7 percent from a year earlier.The company said in a regulatory filing that it posted 66.4 billion won in operating prof…

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Seoul stocks up for 3rd straight day on earnings, U.S. rate decision

February 3, 2023 admin Finance

SEOUL– South Korean shares gained for a third consecutive day on Friday as investors digest the U.S. Federal Reserve’s latest rate decision earlier this week, in addition to outlook for local corporate earnings. The Korean won fell against the U.S. do…

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Naver 2022 net profit down 96 pct on one-off factor

February 3, 2023 admin Finance

SEOUL– South Korean internet portal giant Naver Corp. said Friday its net profit plunged in 2022 from a year earlier due to a one-off factor stemming from a business integration a year earlier.Its net income reached 664 billion won (US$544.1 million),…

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