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Samsung Electronics appears to have overtaken Nvidia to post the world’s largest quarterly operating profit among major tech companies, reporting a record 89.4 trillion won ($58.6 billion) for the second quarter on booming demand for AI memory chips. Samsung said Tuesday its preliminary operating profit for the April-June period surged 1,810.3 percent from a year earlier. Revenue jumped 129.3 percent on-year to an all-time high of 171 trillion won. The operating profit also beat the market conse
LG Electronics said Tuesday it delivered its best-ever second-quarter performance, helped by strong sales of home appliances, vehicle components, and heating, ventilation and air-conditioning systems. In a regulatory filing, the company estimated its operating profit for the April-June period at 1.58 trillion won ($1.04 billion), up 146.9 percent from a year earlier. Revenue rose 14.9 percent on-year to 23.83 trillion won. The preliminary results beat market expectations. According to financial
The National Pension Service resumed rebalancing its domestic equity portfolio this month, but the pace of selling during the first three trading days was slower than investors had feared, suggesting the market impact may be less severe than expected. The NPS, the world's third-largest pension fund with more than 2,000 trillion won ($1.47 trillion) in assets under management, increased holdings in stocks including SK hynix, Hanwha Aerospace and Hybe while continuing to trim its overall domestic
US President Donald Trump has repeatedly bought and sold shares of New York-listed Coupang Inc., the parent company of Korea’s Coupang business, over the past 10 months amid ongoing discord between Seoul and Washington over Coupang’s data breach. According to the financial disclosure reports released by the US Office of Government Ethics on Wednesday, Trump executed 18 transactions involving Coupang stock through two investment accounts between October 9 and May 22 this year. The disclosures sho
The personal information of 17,551 Woori Bank customers was leaked after an employee at an external software developer retained customer data without authorization and uploaded it, the bank said Friday. The leaked information included connecting information, or CI, an encrypted identifier used to verify individuals online, as well as customer nicknames. Phone numbers, resident registration numbers and home addresses were not compromised, according to the bank. The affected customers had expresse
Hana Financial Group said Sunday it launched the 20th class of its SMART student ambassador program, with 50 university students beginning two months of activities following an inauguration ceremony held Thursday at the group's headquarters in Myeong-dong, Seoul. Launched in 2012 as the financial industry's first university student ambassador program, SMART has become one of Hana Financial's flagship youth engagement initiatives. Under the theme "Ha.Ha.Ha.," the students will act as a bridge bet
HANOI, Vietnam — South Korea should broaden its export portfolio beyond semiconductors by expanding sales of cosmetics, food, pharmaceuticals, fashion and other consumer goods, the chief of the Korea Trade-Investment Promotion Agency said, arguing that a more balanced trade structure would make Asia’s fourth-largest economy more resilient to industry cycles. Kang Kyung-sung, president of KOTRA, said at a press conference in Hanoi on Thursday that Korean consumer brands are becoming an increasing
A delegation led by the Korea International Trade Association visited Washington this week for talks with US government and trade officials, seeking improved investment conditions for Korean companies operating in the US. KITA said Friday that the delegation, led by Executive Vice Chairman Lee In-ho and joined by major industry groups, including the Korea Offshore & Shipbuilding Association and the Korea Iron & Steel Association, conducted a high-level outreach mission in Washington from Monday
South Korea will deploy 1 trillion won ($647 million) to ease the burden of high living costs, while lowering fuel price caps and freezing major public utility rates in the second half of the year. "We will inject 1 trillion won in fiscal spending to support small merchants hit by high oil prices and mobilize all available measures to do our utmost to keep consumer inflation below 3 percent in the second half," Finance Minister and Deputy Prime Minister Koo Yun-cheol said Friday. Koo announced t
South Korea has again failed to make MSCI's developed market watchlist, delaying Seoul's long-running campaign to move beyond emerging market status. The decision comes despite a sweeping reform drive aimed at improving foreign investor access. MSCI, in its annual market classification review released early Wednesday Korea time, kept Korea in its emerging market category and left the country off the watchlist for a potential upgrade to developed market status. The decision pushes back Korea's up
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Musinsa brings Japanese fashion to Seoul with Zozotown
AmCham chief receives honorary doctorate from Korea Aerospace University
Korea's manufacturing jobs rise for first time in 27 months
Bentley hits the battlegrounds in PUBG's latest update
Samsung's top brass convene in Tokyo as Japan chip ties deepen
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