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

Samyang Foods joins culture ministry to lure Buldak fans to Korea SEOUL, July 31 (AJP) - South Korea's culture ministry announced it would sign a memorandum of understanding with instant-noodle maker Samyang Foods to promote overseas tourism, seeking to convert the global appetite for Korean food into visits to the country. The Ministry of Culture, Sports and Tourism said Friday the deal is designed to channel the worldwide popularity of K-food into tangible travel demand, pairing Korean tourism advertising with Samyang's products and content across l July 31, 2026

Korea's June factory output hits 6-year high, chip lifts domestic front SEOUL, July 31 (AJP) - South Korea's factory output soared to a six-year high in June as robust automobile demand complemented chip activity, lifting the broader domestic economy. Mining and manufacturing output climbed 5.8 percent from May and 6.4 percent from a year earlier, the strongest monthly performance since June 2020, according to data released Friday by the Ministry of Data and Statistics. The rebound followed a revised 2.9 percent decline in May. Automobile production surged 15 July 31, 2026

Korea's Lee heads for Argentina after state visit to Chile SEOUL, July 31 (AJP) -President Lee Jae Myung called Thursday for South Korea and Chile to transform mounting global economic uncertainty into an opportunity for deeper cooperation, urging the two countries to modernize their two-decade-old free trade agreement and broaden collaboration from critical minerals to advanced manufacturing and defense industries. Speaking at a Korea-Chile Business Roundtable in Santiago attended by business leaders from both countries, Lee said the changing global e July 31, 2026

KAI signs MOU with Embraer on aircraft structures SEOUL, July 30 (AJP) - Korea Aerospace Industries has signed a memorandum of understanding with Brazilian aerospace company Embraer to begin strategic cooperation in the field of aircraft structures, the company said Thursday. The agreement was signed on July 28 during President Lee Jae Myung’s state visit to Brazil, laying the groundwork for broader cooperation between the two companies in future aerospace technologies. KAI said the MOU is aimed at exploring potential business opportuni July 30, 2026

Won hits strongest level in about 5 months after Fed sends mixed signals SEOUL, July 30 (AJP) - The South Korean won strengthened to its highest level in about five months on Thursday, while government bond yields rose as currency and fixed-income markets drew contrasting signals from the Federal Reserve's latest policy decision. The won closed daytime trading at 1,437.4 per dollar, strengthening by 9.3 won from the previous session's close of 1,446.7. The currency traded between 1,435.9 and 1,447.7 during the session before returning below the 1,440 mark, July 30, 2026

KOSPI extends losses as chipmakers' strong earnings fail to lift sentiment SEOUL, July 30 (AJP) - South Korean stocks extended losses for a third straight session on Thursday, with the benchmark KOSPI hovering around 5,600 points despite strong foreign and institutional buying, as retail investors sold shares following this week's market rout. The index opened higher and appeared likely to climb back above 6,000 points, but fell in afternoon trading as concerns over semiconductor demand, renewed tensions in the Middle East and a weak overnight session on Wall Stre July 30, 2026

Military to inspect guard operations across Army corps after ammunition controversy SEOUL, July 30 (AJP) - South Korea’s military will inspect guard operations across all Army corps after controversy emerged over a front-line unit’s decision not to keep live ammunition loaded in crew-served weapons during border guard operations. According to the Joint Chiefs of Staff on Thursday, the Army’s Ground Operations Command will begin the inspection with I Corps and expand it to all subordinate corps. The review will look into whether other corps have changed guard July 30, 2026

BOK puts policy, markets veterans in key posts SEOUL, July 30 (AJP) - The Bank of Korea moved monetary policy and financial market specialists into key advisory and operational posts on Thursday, underscoring a push to strengthen policy coordination and its capacity to respond to market volatility. The central bank appointed or reassigned 11 department and regional branch heads and promoted 56 employees, including nine to Grade 1 and 15 to Grade 2. Lee Hwa-yeon, previously head of the Policy Coordination Team at the Monetary Policy Departm July 30, 2026