Naver's second quarter net profit jumps nearly 50 percent

SEOUL, August 8 (AJP) - Naver, South Korea’s largest internet company, said on Friday that its second-quarter net profit surged nearly 50 percent from a year earlier, aided by a base effect tied to changes in its corporate structure and gains across its core business segments. Net income for the April-to-June period rose to 497.4 billion won, or about $359.6 million, the company said in a regulatory filing. That marks a 47.9 percent increase from the same period last year.

August 8, 2025

Samsung Electronics, SK hynix could avoid US chip tariffs under new Trump policy

SEOUL, August 8 (AJP) - The Trump administration will waive newly announced semiconductor tariffs for companies that commit to building manufacturing facilities in the United States during President Donald Trump’s current term, the Commerce Secretary said on Thursday (local time), signaling a possible reprieve for major South Korean chipmakers including Samsung Electronics and SK hynix. In an interview with Fox News, Secretary Howard Lutnick sought to clarify President Trump&r

August 8, 2025

From optics to AI: Canon's bold bet on future of imaging

Editor's Note: This article is the 30th installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, August 06 (AJP) - Once a small precision optics workshop in Tokyo, Canon Inc. has evolved into one of Asia’s most prominent technology conglomerates. In 2025, the Japanese company is sharpening its focus on artificial intelligence and sustainable manufactu

August 8, 2025

[K-Beauty] South Korea's SME minister pledges export support amid US tariff concerns

SEOUL, August 07 (AJP) - South Korean Minister of SMEs and Startups Han Seong-sook said Wednesday the government will help maintain global competitiveness in key export sectors, including K-beauty and used cars, amid rising trade tensions with the United States. Han made the remarks during a meeting with export-focused small and medium enterprises (SMEs) at a logistics center, owned by a beauty product retailer Silicon2, located in Gwangju, south of Seoul. The session focused on

August 7, 2025

[K-Tech] South Korea's fintech giants gear up for stablecoin battle

SEOUL, August 7 (AJP) - South Korean fintech companies are forming dedicated task forces and ramping up preparations as expectations mount for the introduction of won-backed stablecoins in the country. Stablecoins, digital tokens typically pegged to fiat currencies like the U.S. dollar or euro, have gained traction globally for their potential to enable faster, lower-cost transactions while promising greater price stability. Following the fintech sector's growing interest in

August 7, 2025

[K-Tech] Samsung to produce Apple's next-generation chips at US foundry facility

SEOUL, August 07 (AJP) - Samsung Electronics will manufacture next-generation chips for its competitor Apple's products, including iPhones, at its foundry facility in the United States, the South Korean chipmaker said Thursday. This marks Samsung's first return to chip production partnership with Apple after the American tech giant shifted most of its processor manufacturing to Taiwan Semiconductor Manufacturing Co (TSMC) in 2013. Apple also released a press release on Aug

August 7, 2025

OpenAI and Anthropic tap S. Korean market, targeting enterprise and public sector markets

SEOUL, August 07 (AJP) - Major United States artificial intelligence developers are accelerating their business expansion into South Korea, establishing local offices and recruiting skilled workers as they target the country’s enterprise and public sector markets. According to industry sources on Thursday, OpenAI, the company behind ChatGPT, has recently relocated the address of its South Korean entity to a shared office space in Seoul's southern district of Gangnam, als

August 7, 2025

[K-Tech] Samsung unveils Galaxy Watch8 with advanced health sensors for preventive care

SEOUL, August 07 (AJP) - Samsung Electronics said Thursday it has upgraded the Galaxy Watch8 series with advanced sensor technologies that enable preventive health monitoring and lifestyle habit formation through new features including bedtime guidance and antioxidant index measurement. The South Korean tech giant announced during a press briefing held in central Seoul that the latest smartwatch series is the brainchild of Samsung's smartwatch sensor development project that b

August 7, 2025

[K-Tech] Hyundai Motor, General Motors to jointly develop 5 new vehicles for North American markets

SEOUL, August 7 (AJP) - Hyundai Motor Company and General Motors (GM) announced on Thursday their plans to jointly develop and release 5 new vehicles by 2028, including a commercial electric vehicle model. Four of the planned vehicles, a mid-sized pickup and a compact pickup truck, a compact sedan, and a compact sport utility vehicle, are to target Central and South American markets. All vehicles are to have the flexibility to use internal combustion or hybrid propulsion systems. Hy

August 7, 2025

Watcha enters court receivership, vows to maintain streaming service

SEOUL, August 07 (AJP) - Watcha, a South Korean streaming platform, has entered court receivership after a creditor-initiated petition. Despite the ongoing court proceedings, the company has assured users and partners that its services will continue without disruption. According to industry sources on Thursday, the Seoul Bankruptcy Court approved the commencement of Watcha’s rehabilitation process on August 4. The decision followed a petition filed by Enlight Ventures, a hol

August 7, 2025