Carmakers’ April sales soar 77 pct on strong overseas demand May 3, 2021
South Korean carmakers’ sales jumped 77 percent last month from a year earlier driven by robust overseas demand for SUVs amid the extended COVID-19 pandemic, industry data showed Monday.
The five carmakers Hyundai Motor Co., Kia Corp., GM Korea Co., Renault Samsung Motors Corp. and SsangYong Motor Co. sold a combined 630,691 vehicles in April, up from 356,604 units a year ago, according to data from the companies.
Their domestic sales fell 6.6 percent to 135,601 units last month from 495,090 a year ago. But overseas sales more than doubled to 495,090 from 211,463 during the same period, the data showed.
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Korean won strengthens against U.S. dollar South Korea benchmark bond yield rises
SEOUL, April 30 (Reuters) - Round-up of South Korean financial markets: South Korean shares fell on Friday and were set to post their biggest weekly decline in about two months, weighed down by tech losses on concerns about China’s crackdown on Tencent, while chip shortage worries dented carmakers. The won strengthened but the benchmark bond yield rose. The benchmark KOSPI fell 16.11 points, or 0.51%, to 3,157.96 as of 01:47 GMT. For the week, the index has slipped 1.2% Among the heavyweights, technology giant Samsung Electronics rose 0.12% and peer SK Hynix fell 1.92%, while LG Chem fell 3.15% and Naver fell 2.05%. Hyundai Motor and Kia Corp dropped 2.5% and 2.3%, respectively.
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LG Chem reports record high Q1 earnings on EV battery sales
Posted : 2021-04-28 18:43
Updated : 2021-04-28 18:47
LG Chem s booth at Chinaplas 2021, in Shenzhen held April 13-16 / Courtesy of LG Chem
LG Chem, South Korea s leading chemical firm, said Wednesday its first-quarter net profit rose to the highest level ever on strong electric vehicle (EV) battery sales, vowing to step up investment in the battery and related materials to further propel growth.
LG Chem s net profit came to 1.4 trillion won ($1.2 billion) in the January-March period, skyrocketing from a net profit of 36.3 billion won a year earlier, the company said in a regulatory briefing.
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