Kolmar Korea posts record quarterly earnings on global K-beauty boom

SEOUL, August 08 (AJP) - Cosmetics manufacturer Kolmar Korea posted its highest-ever quarterly revenue in the second quarter, fueled by the global proliferation of the K-beauty trend. The company reported consolidated revenue of 730.8 billion won (approximately $555 million) for the April–June period, a 10.7 percent increase from a year earlier, according to a regulatory filing on Friday. Operating profit rose 2.4 percent to 73.5 billion won ($55.8 million), with the oper

August 8, 2025

South Korea posts record current account surplus of $14.27 billion in June

SEOUL, August 8 (AJP) - South Korea recorded its largest-ever monthly current account surplus in June, buoyed by resurgent semiconductor exports and a surge in dividend income from overseas investments, the Bank of Korea said Friday. The surplus reached $14.27 billion, the most since the central bank began compiling data, according to preliminary balance of payments figures for June. It marked the 26th consecutive month of a surplus, underscoring the resilience of the country’

August 8, 2025

LIG Nex1, Doosan, Hyosung Heavy included in MSCI index

SEOUL, August 8 (AJP) - Global index provider MSCI has added three South Korean companies to its Korea Index in its latest quarterly rebalancing, while removing three others. The new additions, announced Thursday (local time), include defense contractor LIG Nex1, construction and robotics firm Doosan, and electric motor manufacturer Hyosung Heavy Industries. Companies dropped from the index are food and biotechnology conglomerate CJ CheilJedang, electric components maker LG Innot

August 8, 2025

POSCO's construction unit under full government probe following repeated worker deaths

SEOUL, August 08 (AJP) - South Korea’s Ministry of Land, Infrastructure and Transport has launched a sweeping safety inspection of nearly 100 construction sites operated by POSCO Engineering & Construction, the government announced Thursday, in the wake of a series of fatal workplace accidents. The probe, which began in late July, targets construction sites where POSCO E&C is the main contractor. The company, a subsidiary of steel giant POSCO Holdings, has faced moun

August 8, 2025

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