SK hynix posts soaring profits on surging AI chip demand

SEOUL, April 24 (AJP) - SK hynix reported a sharp rise in first-quarter profits on Thursday, fueled by surging demand for advanced memory chips used in artificial intelligence applications. The company’s operating profit jumped 157.8 percent from a year earlier to 7.44 trillion won, or about $5.21 billion, according to a regulatory filing. Revenue rose 41.9 percent to 17.64 trillion won, while net profit soared 323 percent to 8.11 trillion won. “The memory market impr

April 24, 2025

Alibaba's 26-year rise as Asia's technology titan

Editor's Note: This article is the 15th installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, April 24 (AJP) - In 1999, in a small apartment in Hangzhou, eastern China, a former English teacher named Jack Ma gathered 17 friends and associates to launch a new kind of business. Their goal was audacious: to create an online marketplace that would connect Ch

April 24, 2025

South Korea sees first monthly rise in births in 11 years

SEOUL, April 23 (AJP) - South Korea recorded its first year-on-year monthly increase in births in more than a decade in February, offering a rare glimmer of hope in the country’s ongoing demographic crisis. According to data released Wednesday by Statistics Korea, 20,035 babies were born in February, a 3.2 percent increase from the same month last year, or 622 additional births. This marked the first time since 2014 that February births had risen and the largest such incr

April 23, 2025

Retailers battle for supremacy in booming online fresh food market

SEOUL, April 23 (AJP) - South Korea’s major retailers are intensifying their push into the fresh food market, a fast-growing segment that has emerged as a critical battleground for both e-commerce and traditional chains. Coupang, the country’s dominant online retailer, is leading the charge. The company has ramped up its investment in fresh food logistics, forging direct partnerships with regional producers across South Chungcheong, South Gyeongsang, and North Gyeongsa

April 23, 2025

Prosecutors raid Korea Zinc, brokerages in market manipulation probe

SEOUL, April 23 (AJP) - Prosecutors raided the headquarters of Korea Zinc and several major brokerage firms on Wednesday as part of a widening investigation into allegations of unfair trading practices tied to a multibillion-dollar rights offering announced last year. Investigators from the Southern Seoul District Prosecutors’ Office carried out search and seizure operations at six corporate offices and five private residences, including those of Korea Zinc executives and bran

April 23, 2025

Tariff tensions between US and China will dent Korea's growth: report

SEOUL, April 23 (AJP) - South Korea's economy could see its growth rate shaved by as much as half a percentage point this year if trade tensions between the United States and China continue to escalate, according to a report from Citigroup. The analysis underscores the deepening vulnerability of export-driven economies like South Korea's amid intensifying geopolitical frictions between the world’s two largest economies. Even under scenarios in which Seoul manages to

April 23, 2025

With AI in focus, Naver, Kakao brace for earnings

SEOUL, April 23 (AJP) - South Korea’s leading tech companies, Naver and Kakao, are set to release their first-quarter earnings for 2025 next month, amid intensifying pressure to keep pace in the rapidly evolving landscape of artificial intelligence. According to a filing with the Financial Supervisory Service on Wednesday, Naver will announce its results on May 9 via a conference call, while Kakao is scheduled to release its earnings a day earlier, on May 8. Analysts anti

April 23, 2025

Prosecutors take over high-profile stock manipulation case linked to former first lady

SEOUL, April 23 (AJP) - South Korea’s financial watchdog said it will refer a high-profile stock manipulation case possibly involving the country’s former first lady, Kim Keon Hee, to prosecutors on Wednesday. The Securities and Futures Commission, which oversees investigations into irregularities in the nation’s financial markets, will vote during its regular meeting on filing criminal complaints against individuals implicated in the manipulation of shares in Samb

April 23, 2025

LG Display eyes turnaround as demand for OLED TVs surges in China

SEOUL, April 22 (AJP) - Sales of televisions equipped with Korean-made OLED (organic light-emitting diode) panels are rapidly gaining ground in China’s premium TV market, reflecting a notable shift in consumer preferences and industry momentum. According to market research firm Omdia, OLED panels are projected to account for 78.3 percent of premium televisions priced above $2,500 in China this year. That figure marks a sharp increase from 47.2 percent in 2024, suggesting a g

April 22, 2025

Procurement dispute emerges over Korea's first privately-led geostationary satellite

SEOUL, April 22 (AJP) - A procurement dispute has erupted over South Korea’s first privately-led geostationary satellite development project, underscoring growing competition in the country’s burgeoning space sector. Industry sources said Tuesday that the committee overseeing the Chollian Satellite 5 project selected LIG Nex1 as the preferred negotiation partner for developing the satellite bus. The decision prompted a formal objection from rival bidder Korea Aerospace

April 22, 2025