Feeds

Three Korean memory manufacturers show mixed results

But debts mount

  • alert
  • submit to reddit

The essential guide to IT transformation

The beleaguered South Korean economy, combined with a worldwide slump in memory prices, have had an impact on the results of Hyundai, Samsung and LG. The world's largest memory manufacturer, Samsung, performed best, with an increase in profit up to $113 million for the first six months of 1998, from $92 million in the same period last year. Sales for the half year also rose by 18 per cent to $7.9 billion. Samsung was boosted by strong sales of telecoms equipment, said analysts, but semiconductor and consumer electronics sales remained weak. Samsung also benefited from the weakness of the South Korean won against the dollar, and meant it boosted its earnings from exports. But the other South Korean giants which make memory fared less well. Hyundai posted a $250 million loss for the period, compared with a $113 million profit last year. The loss came on sales up 63 per cent to $1.75 billion. Also making a six-month loss was LG Semicon which lost $188 million, against a $12 million profit last year. Again sales were up, this time by 42 per cent to $912 million. A Coopers & Lybrand financial audit of South Korean company debt - at the end of 1997 - showed that many of the chaebols owed banks large amounts of money. Samsung had $5 billion in long-term loans and $1 billion in short-term, LG had $2.9 billion in long-term debt and $276 million in short term and Hyundai's long-term debt was $3.27 million with its short-term debt standing at $1.47 billion. The government of South Korea is still pushing these three companies to consolidate their business activities but so far they have resisted attempts to do so.

5 things you didn’t know about cloud backup

More from The Register

next story
True fact: 1 in 4 Brits are now TERRORISTS
YouGov poll reveals terrible truth about the enemy within
Microsoft exits climate denier lobby group
ALEC will have to do without Redmond, it seems
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Primetime precrime? Minority Report TV series 'being developed'
I have to know. I have to find out what happened to my life
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
7 Elements of Radically Simple OS Migration
Avoid the typical headaches of OS migration during your next project by learning about 7 elements of radically simple OS migration.
BYOD's dark side: Data protection
An endpoint data protection solution that adds value to the user and the organization so it can protect itself from data loss as well as leverage corporate data.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?