AJU PRESS - ASIA NEWS HUB

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Candice Kim, Lim Jaeho candicekim1121@ajupress.com, ajupresswogh@ajupress.com

[[K-Tech]] SK hynix posts record earnings on surging AI memory demand SEOUL, July 24 (AJP) - SK hynix reported its strongest-ever quarterly results on Thursday, fueled by surging demand for high-performance memory chips used in artificial intelligence applications. The South Korean chipmaker posted second-quarter revenue of 22.23 trillion won (about $16.3 billion), with operating profit reaching 9.21 trillion won ($6.8 billion) and net income rising to 6.99 trillion won ($5.1 billion), eclipsing its previous record set in the final quarter of 2024. The company achieved an operating margin of 41 percent and a net profit margin of 31 percent — among the highest in the global semiconductor industry. SK hynix attributed the stellar performance to robust sales of both DRAM and NAND flash products, driven by rising demand from global technology firms investing heavily in AI infrastructure. In particular, sales of its high-bandwidth memory (HBM) products, including the advanced HBM3E 12-layer chip, played a pivotal role in driving revenue. "Our strong results reflect SK hynix’s leadership in AI memory and our disciplined focus on profitability," the company said in a statement. It noted that NAND flash shipments outpaced expectations across multiple sectors, while DRAM sales surged on the back of growing adoption of HBM solutions. The strong quarter bolstered the company’s financial position. Cash holdings rose by 2.7 trillion won from the previous quarter to 17 trillion won, while net borrowings declined by 4.1 trillion won. The company’s debt ratio stood at 25 percent, with a net debt ratio of just 6 percent. Inventory levels remained stable, aided by steady customer demand and ramped-up manufacturing of finished products. SK hynix expects momentum to continue through the second half of the year, as major customers prepare new product launches and expand AI model deployments. To meet rising demand, the company said it will roughly double HBM output this year compared to 2024 and expand production of AI-specific memory formats such as server LPDDR modules and next-generation GDDR7 chips for GPUs. In a conference call with analysts, executives confirmed that the company plans to increase capital expenditures above earlier projections, with the majority of new investments dedicated to HBM-related equipment. The company has already sold out its 2025 HBM supply and is in final-stage negotiations with key clients — including Nvidia — to secure next year’s orders. SK hynix is currently supplying its HBM3E 12-layer products to Nvidia and other major players and is preparing to begin mass production of its sixth-generation HBM4 chips in the second half of this year. The company also signaled plans to optimize production by using its Chinese facilities for legacy DRAM manufacturing, while shifting advanced memory output to other sites. It emphasized that operations in China will remain compliant with international regulations and continue supporting customers with long-term demand for DDR4 products. In light of the U.S. government's recent approval for Nvidia's export of its H20 AI chip to China, SK hynix expressed cautious optimism about increased memory demand tied to those shipments. President Song Hyun-jong said the company would move ahead with preemptive investments to secure HBM capacity, citing clear demand visibility into 2026. “SK hynix aims to become a Full Stack AI Memory Provider,” he said, “by delivering timely, high-performance, and high-quality products that meet the evolving needs of the global AI ecosystem.” 2025-07-24 16:06:24
China's BYD edges out Tesla, reshaping global auto order Editor's Note: This article is the 28th installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, July 23 (AJP) - BYD, the Chinese electric vehicle manufacturer that began as a modest battery startup three decades ago, reported record revenue of 777.1 billion yuan ($107 billion) for 2024, overtaking Tesla’s $97.7 billion. The milestone comes as BYD sold 4.27 million new energy vehicles last year — a 41 percent jump from 2023 — making it the world’s fourth-largest automaker by volume. The achievement marks a stunning ascent for a company founded in 1995 with just 20 employees in the southern Chinese city of Shenzhen. That company, started by 29-year-old chemical engineer Wang Chuanfu, initially made rechargeable batteries to undercut expensive Japanese nickel-cadmium cells. BYD — short for “Build Your Dreams” — entered the automotive industry in 2003 with the acquisition of a struggling local carmaker, setting the stage for Wang’s long-term vision of integrating battery technology into the future of transportation. At the time, the notion of electric cars as a mainstream product was far-fetched. But Wang’s strategy gained critical validation in 2008 when Warren Buffett’s Berkshire Hathaway bought a 9.89 percent stake for $230 million. The deal, encouraged by Buffett’s longtime partner Charlie Munger, gave BYD a credibility boost during the global financial crisis and helped accelerate its EV ambitions. As of mid-2024, Berkshire still held a 6.9 percent stake, despite gradually reducing its position amid soaring share prices. A key technological leap came in 2020 with the introduction of the company’s Blade Battery, a lithium iron phosphate design known for its high energy density, safety, and low cost. Produced by BYD’s battery arm, FinDreams, the Blade Battery became a defining feature of the company’s competitive edge, allowing it to offer EVs at significantly lower prices without compromising on quality. That technological self-sufficiency is central to BYD’s model. About 75 percent of its vehicle components — from semiconductors to electric motors — are produced in-house. The company operates more than 30 industrial parks globally and employs over 900,000 people, making it China’s largest private-sector employer after several state-owned enterprises. The numbers reflect the scale of its success. BYD’s net profit for 2024 surged 34 percent to 40.25 billion yuan, with cash reserves reaching a record 154.9 billion yuan. Interest-bearing debt, meanwhile, fell to just 4.9 percent of total liabilities — one of the lowest ratios in the global auto industry. The company’s R&D spending also rose sharply, reaching 54.2 billion yuan, exceeding its annual profit by more than a third. BYD’s product lineup is as diversified as it is expansive. The Dynasty series, with bestsellers like the Han sedan and Tang SUV, targets mass-market consumers. The Ocean line — including the Dolphin hatchback and Seal sedan — caters to younger drivers. At the higher end, Denza, Yangwang, and Fangchengbao serve the luxury and off-road markets, with prices ranging from under $10,000 to over $100,000. Globally, BYD has become a formidable rival to Tesla. In the first half of 2024, it captured 21 percent of global EV sales, nearly double Tesla’s 11 percent. BYD produced 1.78 million fully electric vehicles last year, slightly edging out Tesla’s 1.77 million. In the final quarter of 2024, it outsold Tesla by 100,000 vehicles, intensifying the race for market leadership. International sales are growing rapidly. Overseas deliveries rose 72 percent to 417,204 vehicles last year, generating more than 220 billion yuan in revenue. BYD now operates or is building manufacturing plants in Thailand, Indonesia, Brazil, Hungary, Turkey, and Mexico — part of a strategy to reduce logistics costs, bypass trade restrictions, and localize production. Europe has become a critical proving ground. The company sponsored the 2024 UEFA European Football Championship and launched advertising campaigns across the continent. With compact EV models and rapid-charging technologies, BYD is positioning itself to challenge legacy players like Volkswagen and BMW. But it faces headwinds, including the European Union’s potential tariffs on Chinese-made EVs, which could complicate pricing strategies in an already competitive market. BYD’s ambitions go well beyond transportation. It has become a comprehensive clean energy provider, manufacturing solar panels and large-scale energy storage systems. This diversification leverages its battery expertise while reducing reliance on vehicle sales. Research and innovation remain at the heart of BYD’s growth engine. The company employs more than 104,000 R&D workers and holds over 48,000 patents. Its latest breakthrough, the Super e-Platform, claims to deliver 400 kilometers of range with just five minutes of charging — double the peak speed of Tesla’s current Supercharger network. Still, challenges loom. BYD has set an ambitious target of 5 to 6 million vehicle sales in 2025. But intensifying competition from both legacy automakers and startups, potential trade friction, and the need to maintain margins while scaling globally could test the company’s resilience. Yet few companies have upended a global industry so quickly or so decisively. From a modest factory floor in Shenzhen to the top of the world’s EV rankings, BYD is no longer just building its dreams — it’s driving them. 2025-07-24 10:38:28
S. Korea sees 11th straight monthly rise in births, but population still declines SEOUL, July 23 (AJP) - South Korea’s birth rate rose for an 11th consecutive month in May, offering a rare glimmer of hope for the world’s fastest-aging society. According to data released Wednesday by Statistics Korea, 20,309 babies were born in May, up 3.8 percent from the same month a year earlier. It was the highest growth rate for May since 2011 — and the strongest monthly increase since the agency began compiling such data in 1981. From January through May, births totaled 106,048, marking a 6.9 percent increase year-on-year and surpassing 100,000 for the first time in recent years. The country’s total fertility rate — the average number of children a woman is expected to have in her lifetime — edged up to 0.75 in May, a slight increase from 0.73 the previous year. Still, it remains far below the replacement level of 2.1, and among the lowest in the world. Government officials credited the uptick to a rise in marriages, a larger cohort of women in their early 30s, and an expansion of central and local policies aimed at easing the financial burdens of child-rearing. Marriage registrations in May rose 4 percent to 21,761 — the highest figure for the month since 2019 — marking 14 straight months of year-on-year increases. Firstborn children accounted for 61.9 percent of all births. Second children made up 31.8 percent, while third or subsequent births comprised 6.3 percent. Divorces, meanwhile, fell to 7,413 in May — a 6.4 percent drop and the lowest number for the month since 1997. Yet despite the modest progress, South Korea’s overall population continued to decline. The number of deaths in May, 28,510, outpaced births by 8,202. Deaths were nearly unchanged from a year earlier, decreasing by just seven cases. While the rising birth numbers suggest a potential demographic shift, experts caution that sustained gains will be needed to reverse South Korea’s deepening population crisis. Without more robust growth, the country faces long-term challenges ranging from labor shortages to pension system strain and declining economic dynamism. 2025-07-23 17:35:26
S. Korea's AI job coach is getting people hired — fast SEOUL, July 23 (AJP) - In the not-so-distant past, landing a job in South Korea meant printing resumes, navigating job boards, and endlessly refreshing inboxes. But today, tens of thousands are finding employment with a very different kind of help — an artificial intelligence system that knows what they’re good at, what they want, and where they’re likely to succeed. According to the Ministry of Employment and Labor, the number of successful job placements through the country’s AI-powered job matching platform surged 84 percent in the first half of 2025, compared to the same period last year. That translates to more than 87,000 people who found work through Work-Net, a government-run digital platform that pairs job seekers with openings based on their resumes, experience, and career goals. And it’s not just placing people in jobs — it’s helping them earn more. Workers who were matched through AI recommendations reported wages that were, on average, 120,000 won higher per month in employment insurance records than those who applied for jobs on their own. The platform is finding particular traction in white-collar and high-skill fields, including management, finance, research, and engineering — industries where applicants’ nuanced qualifications can be difficult to match manually. AI has made that process faster and more precise. One of the standout tools is JobCare, a virtual career counselor of sorts. Using natural language processing and machine learning, it scans resumes and cover letters to suggest tailored job paths, relevant training, and even potential career pivots. In just six months, JobCare issued more than 274,000 personalized career reports — 50 percent more than the same period last year. Most of its users are in their 20s, many navigating their first steps in a fast-changing labor market. That demand is prompting the government to scale up. Beginning in September, Work-Net will roll out four new AI-driven features: a personalized career aptitude test, an employment probability model that estimates hiring likelihood, a smart vocational training recommender, and an automated job posting assistant for employers. “This is about making employment support more accessible, more personal, and more effective,” said Cho Jung-sook, director of Employment Support Policy at the ministry. “We want to meet people where they are — with services that work for them, backed by AI and big data.” Behind the numbers is a larger trend: South Korea is betting big on digital infrastructure — not only to manage a shifting labor force, but to empower it. As the country accelerates its transition to a digitized economy, its jobseekers are bringing along an unlikely but increasingly essential ally: artificial intelligence. 2025-07-23 16:02:59
Samsung's grip on foldable phone market expected to slip this year SEOUL, July 23 (AJP) - Samsung Electronics is expected to see its global market share in foldable smartphones drop by roughly 10 percentage points this year, as rival brands gain ground in the rapidly evolving segment, according to a report by Taiwan-based research firm TrendForce. The firm projects global shipments of foldable phones will reach 19.8 million units in 2025. Samsung’s share is forecast to decline from 45.2 percent last year to 35.4 percent in 2025, reflecting growing competition. Samsung recently unveiled its latest model, the Galaxy Z Fold7, boasting refinements in hinge design, crease visibility, and form factor. While TrendForce acknowledged the company’s technological advancements, it cited intensifying market competition — particularly from Chinese manufacturers — as the primary factor eroding Samsung’s dominance. Huawei is poised to maintain a strong foothold in the Chinese market and is projected to capture 34.3 percent of global foldable phone sales this year, placing it just behind Samsung. Other Chinese brands are also expected to gain momentum. Honor’s share is forecast to rise from 6 percent to 9.1 percent, Motorola from 5.5 percent to 7.6 percent, and Xiaomi from 3 percent to 5.1 percent. TrendForce noted that the entrance of Apple into the foldable category could reshape the competitive landscape. Apple is widely expected to debut its first foldable device in the second half of 2026, featuring a 5.5-inch external display and a 7.8-inch internal screen. The long-rumored foldable iPhone, aimed at premium users, could serve as a catalyst for broader adoption of foldable technology, the report said. 2025-07-23 13:40:37
Hanwha Ocean tops post-merger performance among Korea's major corporate acquisitions SEOUL, July 22 (AJP) - Hanwha Ocean, formerly Daewoo Shipbuilding & Marine Engineering, has emerged as the top-performing acquisition among major corporate takeovers by South Korea’s 30 largest conglomerates since 2015, according to an analysis released Tuesday by the corporate research firm Leaders Index. The report examined 20 acquisitions valued at over 500 billion won (approximately $365 million), assessing performance across key shareholder metrics including revenue, profitability, equity capital, and market capitalization. The findings indicate that, overall, South Korean conglomerates have generated positive returns through strategic acquisitions in the past decade. Across the 20 companies analyzed, total revenue increased 40.3 percent — from 33.96 trillion won in the two years prior to acquisition to 47.62 trillion won in the two years following. Net income swung from a collective loss of 2.41 trillion won to a profit of 1.45 trillion won, while return on equity (ROE) improved from -11.8 percent to 5.1 percent. Equity capital grew nearly 40 percent to 28.46 trillion won over the same period. Three companies posted gains across all five core indicators: Hanwha Ocean, SK Materials (formerly OCI Materials), and Mirae Asset Securities (formerly Daewoo Securities). Among them, Hanwha Ocean stood out, with revenue jumping 140.2 percent — from 4.49 trillion won to 10.78 trillion won — while its market capitalization surged more than fourfold, from 2.47 trillion won to 11.44 trillion won. SK Group’s 2020 acquisition of Intel’s NAND flash memory unit, now operating as Solidigm, was the largest deal by transaction value at 10.3 trillion won. Samsung Electronics’ 2017 acquisition of U.S.-based Harman ranked second at 9.3 trillion won. Hyundai Motor Group’s 2022 purchase of autonomous driving startup Forty Two Dot delivered the most dramatic revenue growth, with sales increasing more than 1,600 times — from 25 million won to 40.7 billion won — highlighting the potential for exponential expansion in mobility and AI-driven technologies. 2025-07-22 14:51:44
[[K-Tech]] LG unveils advanced EXAONE AI ecosystem SEOUL, July 22 (AJP) - LG AI Research unveiled its next-generation artificial intelligence platform, the EXAONE ecosystem, on Tuesday at its annual AI Talk Concert, signaling an aggressive push into multimodal AI, enterprise solutions, and scientific research. Held at the Magok LG Science Park in Seoul, the event highlighted the firm's ambition to position itself at the forefront of AI innovation across industries ranging from finance to biotechnology. “In 2025, we are entering an era where we think, work and live together with AI,” said Lim Woo-hyung, co-director of LG AI Research. “Artificial intelligence is becoming a core technology that changes our lives and industries.” The centerpiece of the event was EXAONE 4.0 VL, a multimodal vision-language model capable of analyzing complex documents, visual data, and molecular structures. According to LG, the model outperformed Meta’s LLaMA 4 Scout in benchmark evaluations, underscoring the company’s focus on highly specialized AI applications. In the field of healthcare, LG introduced EXAONE Path 2.0, a precision medicine AI that can diagnose certain diseases in under a minute — down from the typical two-week timeframe — marking a potentially significant leap in clinical decision-making. LG also debuted three enterprise-targeted tools built on the EXAONE foundation. The event also highlighted LG’s expanding global collaborations. Professor Baek Min-kyung of Seoul National University’s Department of Biological Sciences presented joint research aimed at advancing beyond Google DeepMind’s AlphaFold. The project focuses on predicting multiple dynamic protein states — rather than static structures — which could lead to more effective drug discovery and therapeutic interventions. Meanwhile, Arman Sahovic of the London Stock Exchange Group demonstrated a business intelligence platform powered by LG’s AI that can analyze financial markets and generate investment insights for global investors. Since launching its first model in December 2021, the EXAONE family has surpassed 5 million downloads, the most of any domestic AI developer, according to LG. LG AI Research said it is transitioning from generative AI to “agentic AI” systems capable of planning and executing tasks autonomously. The company ultimately aims to develop physical AI applications that can interact with the real world. 2025-07-22 14:15:43
Kakao Pay abandons SSG Pay acquisition, pivots to AI investment SEOUL, July 18 (AJP) - Kakao Pay has scrapped its planned acquisition of SSG Pay and Smile Pay, two mobile payment services owned by Shinsegae Group, as its parent company Kakao Group pivots sharply toward artificial intelligence-focused investments, according to industry sources on Friday. The decision marks a significant shift in Kakao Group’s broader strategic direction, which has seen the tech firm prioritize funding for its growing AI ambitions over expanding its fintech footprint. Kakao Pay, a leading mobile payment platform in South Korea, had been in talks with Shinsegae Group since early this year in a bid to better compete with rival Naver Pay. The two sides had finalized key terms, including pricing and corporate valuation, but the deal fell apart as Kakao Group reallocated capital toward its AI initiatives. The move comes just weeks after Kakao Group sold approximately 430 billion won ($310 million) worth of shares in SK Square, a move widely viewed as an effort to raise funds for large-scale AI investments. The now-abandoned acquisition was seen as part of Kakao Pay’s efforts to consolidate its position in South Korea’s highly competitive digital payments market. Shinsegae’s SSG Pay and Smile Pay are embedded within the group’s robust retail ecosystem, including Shinsegae Department Store and e-commerce platform SSG.com. Shinsegae Group said it remains committed to strengthening its payments business independently, pledging to enhance service stability and boost competitiveness across its digital commerce operations. 2025-07-18 16:05:53
[[K-Tech]] Hanwha Q Cells joins US petition to curb solar panel imports from Chinese-controlled firms SEOUL, July 18 (AJP) - A coalition of solar manufacturers, including Hanwha Q Cells and First Solar, petitioned the U.S. Commerce Department on Friday to impose tariffs on solar panels imported from Indonesia, India and Laos, accusing Chinese-owned firms of circumventing existing trade restrictions by routing products through third countries. The petition, filed by the American Solar Manufacturing and Trade Coalition, alleges that Chinese manufacturers are exploiting lower-cost production facilities in the three countries to flood the U.S. market with underpriced solar panels, undermining domestic producers. The move comes just a year after a similar petition led to new tariffs on solar imports from Cambodia, Malaysia, Thailand and Vietnam. Following that decision, imports from Indonesia and Laos surged, filling the gap left by the newly restricted countries. The case underscores the ongoing volatility in the global solar supply chain and the intensifying trade tensions between the United States and China. While the companies at the center of the complaint are based in Indonesia, India and Laos, the petition claims they are ultimately owned or controlled by Chinese parent firms, which are seeking to evade existing U.S. tariffs. “The domestic industry continues to be harmed by dumped and subsidized solar products entering through alternative channels,” the coalition said in a statement. “These measures are necessary to level the playing field.” If the Commerce Department agrees to initiate an investigation, it could result in new anti-dumping and countervailing duties on solar products from the three nations, potentially reshaping sourcing strategies for U.S. solar developers and installers. 2025-07-18 16:00:34
Goldman Sachs downgrades SK hynix, citing risks of HBM price decline SEOUL, July 17 (AJP) - Goldman Sachs downgraded its investment rating on SK hynix to "neutral" from "buy" on Thursday, warning that intensifying competition in the high-bandwidth memory (HBM) market could trigger the first price decline in the segment next year. In a research note, the U.S. investment bank cautioned that pricing power is gradually shifting to major customers — such as Nvidia — potentially undermining the profitability of HBM suppliers. Although SK hynix has benefited from strong share price gains this year, Goldman said the firm’s current valuation leaves little room for further upside amid growing downside risks in 2026. “We are becoming increasingly cautious on the stock,” according to the note. “The shares continue to significantly outperform, but headwinds from pricing pressure and heightened competition warrant a more balanced stance.” The bank added that it would need to see further upward revisions in medium-term demand and pricing for both HBM and conventional DRAM to justify a more bullish outlook. SK hynix shares fell sharply following the downgrade, dropping more than 8 percent in intraday trading to the 270,000 won range. The stock had closed at 300,000 won on July 14, its highest level in 12 years since joining the SK Group. The downgrade comes amid a growing chorus of concern over the outlook for HBM pricing. Daishin Securities recently revised its 2026 forecast for HBM average selling prices, projecting a 6 percent decline — down from a previous estimate of a 7 percent increase. Still, some analysts maintain a more positive view of the company’s strategic positioning. SK hynix remains the leading supplier of HBM chips to Nvidia, which accounts for roughly 70 percent of global demand. In March, the company became the first to deliver samples of sixth-generation HBM4. Hana Securities noted that while SK hynix may face some erosion in market share due to Micron Technology’s entry into the HBM3E space, the firm retains competitive advantages in early product deployment and profitability management. “As long as SK hynix can maintain its early-mover advantage and supply to Nvidia, its leadership in AI memory chips should remain intact,” Hana wrote. 2025-07-17 16:12:29