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  E-commerce giant Coupang's Q1 loss narrows on bumper sales

  SEOUL, May 12 (Yonhap) -- South Korean e-commerce giant Coupang Inc. said Thursday its first-quarter operating loss narrowed sharply from a year earlier thanks to record sales.Its operating loss stood at US$205.7 million in the January-March period,
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  7 carmakers to recall about 12,000 vehicles over software errors

  SEOUL, May 12 (Yonhap) -- Mercedes-Benz and six other carmakers will voluntarily recall nearly 12,000 vehicles to fix software errors and part defects, Seoul's transport ministry said Thursday.Mercedes-Benz Korea will recall 7,598 cars from eight
• Top headlines in major S. Korean newspapers

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  SEOUL, May 12 (Yonhap) -- The following are the top in major South Korean newspapers on May 12.Korean-language dailies-- Yoon says he left out 'unity' because it was obvious, but direction of state affairs unclear (Kyunghyang Shinmun)-- Cons
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  S. Korea seeks to resume construction of two nuclear reactors in 2025: sources

  SEOUL, May 11 (Yonhap) -- South Korea's new administration will seek to resume currently suspended construction of two nuclear reactors in the coastal county of Uljin in 2025, government and industry sources said Wednesday.In its key policy imple
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  Diesel price outstrips gasoline for first time in 14 years over tight supply, tax cut

  SEOUL, May 11 (Yonhap) -- The price of diesel in South Korea has outstripped that of gasoline for the first time in 14 years due to tight global supply stemming from the Russia-Ukraine war and recent fuel tax cuts, industry data showed Wednesday.The
• Diac to raise 10 bln won via stock offering

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  SEOUL, MAY 11 (Yonhap) -- Diac Co.on Wednesday announced that it will sell stocks to raise 10 billion won (US$7.8 million). The proceeds from the stock sale will be used mainly to finance its operations.According to a regulatory filing, the company w
• Grand Korea Leisure remains in red in Q1

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  SEOUL, May 11 (Yonhap) -- Grand Korea Leisure Co. on Wednesday reported its first-quarter net loss of 10.8 billion won (US$8.5 million), remaining in the red compared with a year ago.The company said in a regulatory filing that it continued to post a
• Kangwon Land remains in red in Q1

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  SEOUL, May 11 (Yonhap) -- Kangwon Land Inc. on Wednesday reported its first-quarter net loss of 5.8 billion won (US$4.6 million), remaining in the red compared with a year ago.Operating profit for the January-March period was 10.5 billion, compared w
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  (LEAD) Hankook Tire Q1 net falls 41 pct on high material costs, disrupted supplies

  (ATTN: RECASTS throughout; ADDS photo)SEOUL, May 11 (Yonhap) -- Hankook Tire & Technology Co. said Wednesday its first-quarter net profit plunged 41 percent from a year earlier due to higher raw material prices and global supply chain disruption. Net
• LG Household & Health Care Q1 net profit down 56 pct to 113.8 bln won

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  SEOUL, May 11 (Yonhap) -- LG Household & Health Care Ltd. on Wednesday reported its first-quarter net income of 113.8 billion won (US$89.2 million), down 56 percent from a year earlier.The company said in a regulatory filing that it posted 175.6 bill
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  Hyundai Oilbank to build biodiesel plant in S. Korea in 2023

  SEOUL, May 11 (Yonhap) -- South Korean refiner Hyundai Oilbank Co. said Wednesday it will build a 130,000-ton biodiesel plant in the country's southwest next year as it pushes for white biotechnology business.White biotechnology refers to using n
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  POSCO to supply steels for hyperloop tubes in Netherlands

  SEOUL, May 11 (Yonhap) -- POSCO, South Korea's top steelmaker, said Wednesday it plans to supply 275 tons of steels to Dutch company Hardt Hyperloop next year for a hyperloop project.The steels, dubbed "PosLoop 355," will be used for
• Hankook Tire & Technology Q1 net income down 41 pct to 103.2 bln won

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  SEOUL, May 11 (Yonhap) -- Hankook Tire & Technology Co. on Wednesday reported its first-quarter net income of 103.2 billion won (US$80.9 million), down 41 percent from a year earlier.Operating profit for the January-March period was 126.1 billion won
• Korea Gas Q1 net profit up 42.9 pct to 736.1 bln won

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  SEOUL, May 11 (Yonhap) -- Korea Gas Corp. on Wednesday reported its first-quarter net profit of 736.1 billion won (US$576.6 million), up 42.9 percent from a year earlier.Operating income for the January-March period was 912.6 billion won, up 19.4 per
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  Mirae Asset picked as preferred bidder for multiuse complex IFC Seoul

  SEOUL, May 11 (Yonhap) -- South Korean major asset manager Mirae Asset Global Investments Co. was selected as the preferred bidder to purchase a landmark complex in Yeouido, industry sources said Wednesday. Brookfield Asset Management Inc., a Canada-
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  New finance minister vows efforts to stabilize inflation

  SEOUL, May 11 (Yonhap) -- Finance Minister Choo Kyung-ho said Wednesday the new government will place policy priority on stabilizing inflation and beefing up risk management amid heightened economic uncertainty.The finance ministry launched an emerge
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  (LEAD) Shinsegae Q1 net jumps 69 pct amid eased virus curbs

  (ATTN: RECASTS throughout; ADDS photo)SEOUL, May 11 (Yonhap) -- Shinsegae, the operator of South Korea's second-biggest department store chain, said Wednesday its first quarter net profit jumped 69 percent from a year earlier on improving consume
• Hanon Systems Q1 net income down 62.9 pct. to 22.3 bln won

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  SEOUL, May 11 (Yonhap) -- Hanon Systems on Wednesday reported its first-quarter net profit of 22.3 billion won (US$17.5 million), down 62.9 percent from a year earlier.Operating profit for the January-March period was 30.5 billion won, down 67.6 perc
• Shinsegae International Q1 net income up 13.3 pct. to 26.8 bln won

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  SEOUL, May 11 (Yonhap) -- Shinsegae International Inc. on Wednesday reported its first-quarter net profit of 26.8 billion won (US$21 million), up 13.3 percent from a year earlier.The company said in a regulatory filing that it posted 33.1 billion won
• Shinsegae Q1 net profit up 69.2 pct to 150.9 bln won

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  SEOUL, May 11 (Yonhap) -- Shinsegae Inc. on Wednesday reported its first-quarter net income of 150.9 billion won (US$118.3 million), up 69.2 percent from a year earlier.The company said in a regulatory filing that operating profit for the January-Mar