Jeju Air to replace aging fleet with more efficient jets SEOUL, August 3 (AJP) - Jeju Air has added its 13th Boeing 737-8 aircraft, with plans to purchase two more by the end of this year, the budget airline said on Monday. Jeju Air said it is the only South Korean low-cost carrier that owns its aircraft, and with the latest addition, next-generation aircraft now make up 30.2 percent of its passenger fleet. It is part of the carrier's strategic move to replace its Boeing 737-800NG aircraft with Boeing 737-8 jets to reduce costs, as the newer mod August 3, 2026

S-Oil returns to profit in second quarter on firm refining margins SEOUL, August 03 (AJP) - South Korea's S-Oil swung to a second-quarter operating profit as robust refining margins and record lubricant spreads outweighed a sharp drop in crude prices. According to regulatory filings released Monday, operating profit came in at 965.0 billion won ($674.2 million) for the three months ended June, reversing a year-earlier operating loss of 344.0 billion won. Revenue climbed 40.9 percent from a year earlier to 11.34 trillion won, lifted by elevated oil prices, August 3, 2026

Seoul unwinds record rebound as foreigners flip to selling SEOUL, August 03 (AJP) - Korean stocks gave back a large piece of Friday's record rebound at Monday's open, as foreign investors flipped from historic buying back to selling in the same chip shares that had driven the surge. The main index in Seoul shed 322.7 points to 6,272.8, a drop of 4.9 percent. Samsung Electronics fell 7.8 percent and SK hynix 7.5 percent, pulling the large-cap KOSPI 200 down 5.3 percent while the KOSDAQ lost only 0.35 percent to 718.18. Tokyo slipped as well, August 3, 2026

South Korea to set up 20 trillion won strategic fund at KIC SEOUL, July 31 (AJP) - South Korea will establish a strategic investment account worth more than 20 trillion won ($14 billion) at the Korea Investment Corp. to supply long-term equity capital to artificial intelligence, semiconductors and other industries deemed critical to national competitiveness. The fund’s initial capacity to make new investments, however, is expected to be limited to about 600 billion won because most of its capital will consist of government-held shares rather than July 31, 2026

Lee arrives in Argentina for final leg of South American trip SEOUL, July 31 (AJP) - President Lee Jae Myung on Thursday arrived in Buenos Aires for the final leg of his South American trip, after visiting Brazil and Chile earlier this week. It marks the first visit to Argentina by a South Korean president since former President Roh Moo-hyun visited the country in 2004. Lee, who arrived at Ezeiza International Airport late Thursday night with first lady Kim Hea Kyung, is scheduled to hold a summit with Argentine President Javier Milei the following day t July 31, 2026

Hanwha Aerospace posts record Q2 operating profit near $1 billion SEOUL, July 31 (AJP) - Hanwha Aerospace said Friday its second-quarter operating profit reached a record 1.37 trillion won ($951 million), nearing the $1 billion mark, driven by steady defense deliveries at home and abroad and strong earnings from Hanwha Ocean and Hanwha Systems. The company posted 9.29 trillion won ($6.5 billion) in consolidated sales for the April-June period, up 47 percent from a year earlier. Operating profit rose 59 percent on-year to 1.37 trillion won. By business, the l July 31, 2026

Delta to operate temporary Incheon-Las Vegas flights for CES 2027 SEOUL, July 31 (AJP) - Delta Air Lines will operate temporary nonstop flights between Incheon and Las Vegas for Korean travelers attending CES 2027, the company said Friday. The special flights will depart from Incheon International Airport from Jan. 3 to 5 and arrive at Harry Reid International Airport in Las Vegas ahead of CES 2027, which will be held from Jan. 6 to 9. Return flights from Las Vegas to Incheon will operate from Jan. 9 to 10. The Incheon-Las Vegas service will be operated with July 31, 2026

SK's Chey buys first SK hynix stake before 20% rebound SEOUL, July 31 (AJP) —SK Group Chairman Chey Tae-won made his first direct purchase of SK hynix shares just one day before the AI memory giant rebounded more than 20 percent, turning his buy-the-dip move into an immediate paper gain. A regulatory filing with the Financial Supervisory Service on Thursday showed Chey purchased 3,620 common shares of SK hynix earlier in the day at an average price of 1,353,677 won per share. The investment was worth about 4.9 billion won ($3.5 million) base July 31, 2026

LG CNS Q2 profit falls despite higher revenue on cost pressure SEOUL, July 31 (AJP) - LG CNS posted a 9.2 percent drop in second-quarter operating profit, as rising costs outweighed steady sales growth at the South Korean IT services provider. According to a preliminary regulatory filing released Friday, operating profit fell to 127.9 billion won ($89.1 million) in the April to June quarter from 140.8 billion won a year earlier, even as revenue climbed 4.2 percent to 1.52 trillion won. Net income rose 19.9 percent to 118.7 billion won. The firm said that July 31, 2026

KOSPI gains 15% on chip turbocharge SEOUL, July 31 (AJP) -South Korean chip stocks staged an epic rebound on a wave of foreign buying Friday, with SK hynix and Samsung Electronics surging more than 20 percent and propelling the benchmark KOSPI nearly 15 percent higher after this week's rout. The KOSPI jumped 14.9 percent to 6,427.25 as of 9:30 a.m., recouping much of the roughly 18 percent it had lost over the previous four trading sessions. The country's two AI memory champions turbocharged the recovery. SK hynix tra July 31, 2026