GlobalEconomic GlobalEdition

February 1, 2023

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Bajaj Finserv profit grows 42 pc in third quarter

2023.01.31 09:53

Bajaj Finserv on Monday posted a 42 per cent growth in its profit to Rs 1,782 crore for the quarter ended 2022, against Rs 1,256 crore in the year-ago period.The company's total income was Rs 21,755 crore for the reviewed quarter, against Rs 17,620 crore in the corresponding period the previous year, which is a surge of 23.46 per cent. According to the statement shared with the exchanges, finance costs of the company went up to Rs 3,240.78 crore from Rs 2,444.53 crore. Total expenses of the firm surged 17.10 per cent to Rs 17,336.45 crore from Rs 14,370.55 crore in the year-ago period.The comp
S. Korean government to expand K-culture in the Middle East

2023.01.31 09:39

The Ministry of Culture, Sports and Tourism said Monday that it will launch “The Second Middle East Boom TF” and implement follow-up measures to the memorandum of understanding signed with the UAE Ministry of Culture and Youth.The TF team has a cultural policy officer as the team leader and consists of team members in charge of cultural exchanges such as culture, content, media, tourism, and physical education.The ministry will expand exports of Korean content and related industries through TF team and significantly strengthen exchanges and cooperation with the UAE in the areas of culture, s
KT&G to expand partnership with Philip Morris International

2023.01.31 09:37

KT&G will strengthen the partnership with Philip Morris International (PMI), a global tobacco company.KT&G and PMI signed a long-term supply contract for global sales of KT&G’s electronic cigarette Lil at the Conrad Hotel in Yeouido, Seoul, on the 30th.KT&G has signed a contract to supply Reel to PMI in 2020, and PMI has signed a contract for global sales of Lil. Under the contract, the two companies introduced Lil to three countries, including Japan, and succeeded in entering 31 countries, including Europe, Italy, Greece, and major countries in Central Asia and Central America.The contract i
Kia post all-time high operating profit of 7.2 trillion won, up 42% year-on-year

2023.01.30 10:01

Kia said Friday that it posted consolidated operating profit of 7.2331 trillion won last year, up 42.8% year-on-year.Sales increased 23.9% year-on-year to 86.559 trillion won. Net profit rose 13.6% to 5.49 trillion won.Operating profit in the fourth quarter was 2.6243 trillion won, up 123.3% from the previous year. Sales and net profit in the fourth quarter were 23.1642 trillion won and 2.365 trillion won, respectively.Kia’s operating profit in the fourth quarter exceeded the market outlook of 2.3114 trillion won presented by Yonhop Infomax by 13.5%.
LG Energy Solution may suppky batteries produced at US plant to Tesla

2023.01.30 10:01

LG Energy Solution is considering supplying batteries produced at its new Arizona plant to Tesla. LG Energy Solution said in a conference call on the 27th, “The new Arizona plant in the U.S. is discussing ways to supply batteries to Tesla. We will announce the detailed plan soon.”LG Energy Solution initially announced in March last year that it would invest 1.7 trillion won to build a new cylindrical battery plant in Queen Creek, Arizona, but has reviewed the plan three months later. The company delayed the investment plan due to inflation and other factors.However, as LG Energy Solution ann
S. Korean company to construct landfill gas power plant in Uzbekistan

2023.01.30 10:01

A Korean company will build a 16MW-capacity landfill gas power plant in Uzbekistan.The Ministry of Environment said on the 26th (local time) that it attended the groundbreaking ceremony for the Tashkent Landfill Gas Power Plant in Ahangaran, Tashkent, Uzbekistan.The Tashkent landfill gas power plant, which is scheduled to be completed next year, has a project amount of $60 million (about 80 billion won) and a power generation capacity of 16MW. The plant can reduce a total of 1.8 million tons of greenhouse gases over 15 years by generating electricity using methane.The project will be carried o
Samsung Electronics gives new update to Buds 2 Pro SW

2023.01.16 09:53

Samsung Electronics said it will update the software of Galaxy Buds 2 Pro and Galaxy Z Flip 4 and Fold 4 on the 13th. With the update, the smartphones provides 360 Audio Recording feature. Once the software is updated, the Galaxy Z Flip 4 and Fold 4 can record 360-degree sound using a microphone in each earbud. 360 Audio Recording uses LE Audio, an advanced new Bluetooth audio standard, for recording. In addition, Samsung Electronics said it will add camera zoom capabilities to the Galaxy Watch 5 and Watch 4 series next month.Samsung Electronics said, “The company will further expand the Gala
Mirae Asset Management to invest in distribution center in Mumbai, India

2023.01.09 09:52

Mirae Asset Management India Corporation said Friday it will invest in a large distribution center in Mumbai, India. The logistics business in India has recently been growing, and this is the first time that global asset management corporation has invested in India directly.The distribution center, which Mirae Asset Management will invest about 21 billion won, is a 28,000㎡ center completed in 2022 in Bewandi, a logistics hub in Mumbai, India. Bewandi has a geopolitical advantage that connects Mumbai with other major cities, and currently has logistics centers for various global conglomerates
Amore Pacific selected as one of 100 global luxury companies

2023.01.09 09:50

Amore Pacific has been named one of the top 100 luxury brands in global sales as the only Korean brand.According to the “2022 Global Luxury Industry report: A New Wave of Passion” published by Deloitte Korea on the 6th, annual sales of the top 100 global luxury brands were $305 billion (about KRW 388 trillion) last year, up 21.5% from the previous year.Amore Pacific has newly entered the top 100 list. It is the only Korean company included in the list. Sales of Amore Pacific were $3.731 billion (4.74 trillion won) last year, up 11.6% year-on-year, ranking 19th. The report said, “Amore Pacif

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S. Korean battery makers posts all-time performance despite economic downturn

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