LG Display failed to swing into the black in the second quarter of this year due to sluggish market conditions but narrowed its operating deficit to 48.3 billion won ($45.6 million) from 23.9 billion won in the previous quarter. Quarterly net profit reached 21.3 billion won, up from the 115.4 billion won deficit it recorded in the first quarter, the Seoul-based display-maker said on Thursday. “...

Hynix Semiconductor, the world’s second-largest computer memory chip maker, announced Thursday it posted 2.76 trillion won in sales and 447 billion won in operating profit for the second quarter. The figures are down from the same period last year, 16 percent in sales and 56 percent in operating profit. Net income reached 473 billion won ($449 million). “The second quarter started off with dema...

SC First Bank and its labor union, staging the longest walkout in the industry, are increasingly under pressure to strike a deal to end the dispute after the fight resulted in its lowered credit rating and intense scrutiny from the regulator. About half of its 6,500 workforce has been on strike since June 27 to protest against the proposed introduction of a performance-based pay system. The bank...

Hyundai Steel is pushing the drive to expand its presence in the Japanese market for steel plates for ships, with up to four new supply contracts looking likely to be closed during the second half of the year. The company, which began producing thick steel plates in April 2010, has been supplying thick plates to Japanese construction firms and machinery makers since September. According to the ...

Participants agreed that the mainstay of economic growth is leaning to emerging markets led by BRICs — Brazil, Russia, India and China — since a financial calamity in 2007. JEJU ― Leaders in the country’s business circle and academia underscored the significance of innovation and speed in surviving the rapidly changing economic environment. Around 600 business leaders, scholars and government o...

The Renault Group will appoint Francois Provost, the French carmaker’s deputy managing director in Russia, to head Renault Samsung Motors on Sept. 1, an official at Renault Samsung Motors said Thursday. Provost will replace Renault Samsung’s current CEO Jean-Marie Hurtiger, who took the Seoul office in May 2006. “Renault Samsung will have new leader effective Sept. 1. Francois Provost will tran...