Kia's profit falls 5% despite record sales in Q2 SEOUL, July 24 (AJP)-Kia mirrored bigger sibling Hyundai Motor in posting record quarterly revenue but weaker profitability, as rising costs eroded margins despite robust sales. South Korea's second-largest automaker said Friday that consolidated revenue rose 12.6 percent from a year earlier to a record 33.04 trillion won ($23.8 billion) in the April-June period. Operating profit declined 4.9 percent to 2.63 trillion won, despite the record sales, while net profit stood at 2.33 trillion July 24, 2026

Court largely upholds landmark SK divorce ruling, cuts payout to 944 billion won SEOUL, July 24 (AJP) — A South Korean appeals court on Friday largely reaffirmed its landmark ruling in the country's "divorce of the century," ordering SK Group Chairman Chey Tae-won to pay 944 billion won ($642 million) to his former wife, Roh Soh-yeong, after the Supreme Court sent the property division case back for retrial. The Seoul High Court's Family Division 1 reduced the property settlement from its previous 1.38 trillion won ruling but maintained that Roh is e July 24, 2026

Korea brings galleries, auction houses under mandatory art-market registration SEOUL, July 24 (AJP) - South Korea will require galleries, auction houses and other art businesses to register with local authorities beginning July 26, marking the country's first comprehensive effort to bring the commercial art market under a unified regulatory system, the Ministry of Culture, Sports and Tourism said Friday. The new system applies to six business categories: galleries, art auctions, art advisory services, art rental and sales, appraisal services, and exhibition operators. July 24, 2026

KOSPI opens lower as US announces new tariffs amid oil market jitters SEOUL, July 24 (AJP) - Seoul stocks opened sharply lower on Friday after Washington announced a 12.5 percent tariff on South Korean and Japanese exports over "dubious" forced labor concerns, hitting a market already unsettled by a Middle East supply shock that pushed Brent crude back above US$100 a barrel. The benchmark KOSPI dropped 2.2 percent in early trade to 6,939.11, giving up the 7,000 line it had reclaimed only days earlier, while the Nikkei 225 fell 2.5 percent in Tokyo, the July 24, 2026

Won surges amid foreign inflows as stronger-than-expected GDP SEOUL, July 23 (AJP) - The South Korean won strengthened sharply against the dollar on Thursday as foreign investors poured more than 2 trillion won into local shares following stronger-than-expected economic growth and renewed optimism over artificial intelligence-related chip demand. Government bond yields, by contrast, ended little changed as the prospect of further monetary tightening was offset by buying interest after their recent climb. The won gained 13.3 won to close daytime trading a July 23, 2026

Chinese shipbuilder delivers world's first solar-powered carrier to Korea SEOUL, July 23 (AJP) - A Chinese shipbuilder has delivered what it says is the world’s first 10,000-car-class vehicle carrier equipped with a solar power system to South Korea, Chinese state media reported Thursday. Guangzhou Shipyard International (GSI) recently held an online signing ceremony with China Shipbuilding Trading Co. to deliver the vessel to Korea Ocean Business Corp. (KOBC), according to Chinese media outlets including the Global Times. The vessel is a liquefied natural gas July 23, 2026

Samsung union weighs voluntary donation of bonus to social causes SEOUL, July 23 (AJP) - Samsung Electronics' largest labor union is considering a voluntary program allowing employees to donate a portion of their special performance bonuses to social causes, according to an internal union notice. The Samsung Group Super Enterprise Labor Union said the proposal, which was recently shared with its policy committee, is expected to be announced alongside guidance on special bonuses in the third or fourth quarter. Under the proposal, employees in the Devic July 23, 2026

Seoul weighs separate crypto custody regime SEOUL, July 23 (AJP) - South Korea’s financial regulator is considering establishing cryptocurrency custody as a separate regulated business as it prepares to expand corporate access to the country’s digital asset market. The Financial Services Commission is reviewing licensing requirements and conduct rules for custody providers under the government’s planned second-phase digital asset legislation, Kim Sung-jin, director of the FSC’s Virtual Asset Division, said Thursda July 23, 2026

Foreign buying lifts KOSPI more than 4% SEOUL, July 23 (AJP) - Foreign investors bought a net 2.14 trillion won (US$1.46 billion) worth of shares on the KOSPI on Thursday, helping lift the index more than 4 percent as individual investors sold throughout the rally. The KOSPI closed at 7,096.89, up 299.19 points or 4.4 percent, while the tech-heavy KOSDOAQ rose 5.2 percent to 790.28, led by gains in biotechnology stocks. Other major Asian markets moved in the same direction but with far less force, with Japan's Nikkei 225 rising July 23, 2026

Hyundai Motor's Q2 operating profit falls 21% despite record sales SEOUL, July 23 (AJP) — Hyundai Motor, South Korea's largest automaker, suffered 20-percent dip in second-quarter operating profit even as quarterly revenue hit a record high, as weaker sales volume, higher costs, and an unfavorable product mix outweighed favorable currency effects. Operating profit for the April-June period came in at 2.851 trillion won, down 20.8 percent from a year earlier and slightly below market consensus, though up 13.4 percent from the first quarter. The opera July 23, 2026