Journalist

by Joonha Yoo
  • BTS Busan concert sells out in presale as global tour demand surges
    BTS Busan concert sells out in presale as global tour demand surges SEOUL, April 30 (AJP) - BTS’ upcoming Busan concert has sold out during the fan club presale, highlighting strong demand for the group’s global tour, BigHit Music said Thursday. Tickets for the BTS Busan concert, part of the “BTS World Tour ‘Arirang’ in Busan,” scheduled for June 12 and 13 at Busan Asiad Main Stadium, were fully sold out during the membership presale, which opened on Thursday via NOL Ticket, South Korea's popular online ticket reservation service. Busan Asiad Main Stadium is one of South Korea’s largest concert venues with a capacity of up to around 80,000, including floor seating. The BTS tour has drawn strong demand across major markets, beginning with three sold-out shows in Goyang, northwest of Seoul, that attracted a combined audience of some 132,000 people, before continuing through Japan, North America and Europe. The upcoming Busan concert marks BTS’ return to the venue for the first time in about four years since their October 2022 concert held in support of the city’s World Expo bid. That event drew around 50,000 attendees and reached audiences across 229 countries and regions via live broadcasts. The June 13 Busan concert coincides with the group’s debut anniversary, adding symbolic significance. The venue also hosted BTS’ last full-member performance before their military enlistments. Beyond the concerts, BTS plans to roll out a citywide project titled “BTS The City Arirang” across Busan from June 5 to 21, extending the impact of the BTS Busan concert beyond the stage. The tour’s impact is also evident in global music charts. In Japan, BTS’ 2017 track “Crystal Snow” topped Oricon’s weekly streaming surge chart following renewed attention from a Tokyo Dome performance, despite being nearly nine years old. “MIC Drop” also re-entered the rankings, reflecting increased streaming driven by the tour. The global impact of the BTS tour extends beyond music. In El Paso County, Texas, local authorities declared the group’s concert dates as “BTS Weekend,” while presenting the band with an award recognizing its cultural influence. Local officials in El Paso estimate the concerts could generate roughly $75 million in economic impact, underscoring how BTS concerts are driving tourism and local spending worldwide. 2026-04-30 14:45:36
  • KOSPI tests 6,700 milestone amid heavy tug-of-war
    KOSPI tests 6,700 milestone amid heavy tug-of-war SEOUL, April 30 (AJP) - South Korea's main index is set to end weekly session at fresh historic high, breaking above the 6,700 mark for the first time as foreign buying fended off local profit-taking. The KOSPI rose 0.4 percent to 6,713.16 as of 11:20 a.m. Thursday, testing above 6,700 mark for the first time. Foreign investors bought 332.7 billion won($224 million), while institutions and retail investors sold 214.9 billion won and 90.4 billion won, respectively. The markets are closed Friday for Labor Day. Samsung Electronics edged down 0.1 percent to 225,750 won, failing to sustain earlier gains despite reporting record first-quarter earnings. The company posted operating profit of 57.23 trillion won, up 756.1 percent from a year earlier with the bulk, 53.7 trillion driven won from chip sales. Revenue jumped rising 69.2 percent to 133.87 trillion won and net profit surged 474.3 percent to 47.22 trillion won. SK hynix rose 0.8 percent to 1,303,000 won, tracking gains in global semiconductor stocks amid sustained demand for AI-driven memory products. LG Electronics jumped 5.8 percent to 143,700 won after reporting first-quarter operating profit of 1.67 trillion won, up 32.9 percent from a year earlier, with revenue rising 4.3 percent to a record 23.73 trillion won, driven by solid performance in home appliances and vehicle components. However, gains were capped as cyclicals and heavy industry shares declined. Hyundai Motor fell 2.9 percent to 540,000 won, while LG Energy Solution dropped 1.6 percent to 465,500 won. Doosan Enerbility slipped 0.8 percent to 128,200 won. Defense and shipbuilding stocks also edged lower, with Hanwha Aerospace down 0.6 percent and HD Hyundai Heavy Industries losing 0.4 percent. Investor sentiment remained cautious amid rising global uncertainties. Brent crude hovered above $110 per barrel on Middle East tensions, raising inflation concerns, while the Federal Reserve maintained a cautious stance on interest rates after holding the target range for the third straight session. The Volatility Index (VIX) rose 5.5 percent to 18.8, signaling a pickup in market uncertainty. Overnight, U.S. stocks closed mixed as investors weighed concerns over OpenAI’s growth outlook against strong earnings momentum from major technology firms. The Dow Jones Industrial Average fell 0.6 percent, while the S&P 500 slipped 0.04 percent and the Nasdaq Composite edged up 0.04 percent. Subsequent earnings reinforced the AI investment narrative. Microsoft reported an 18 percent increase in quarterly revenue to $82.89 billion, with cloud revenue rising 29 percent. Alphabet posted a 22 percent rise in revenue to $109.9 billion, while its cloud division surged 63 percent. Amazon reported a 16.6 percent increase in revenue to $181.5 billion, all exceeding expectations. Supporting sentiment, the Philadelphia Semiconductor Index rose 2.4 percent, indicating that global chip demand remains resilient despite recent volatility in AI-related stocks. The junior KOSDAQ underperformed, falling 1.0 percent to 1,208.1, as foreign and institutional investors sold a combined 249.7 billion won, offsetting buying of 292.3 billion won by retail investors. Among major KOSDAQ stocks, Ecopro fell 2.3 percent to 156,300 won, Alteogen declined 1.5 percent to 374,500 won, and Samchundang Pharm dropped 4.4 percent to 423,500 won. In contrast, Rainbow Robotics rose 1.8 percent to 676,000 won on continued interest in AI-related automation. Regionally, Hong Kong’s Hang Seng Index fell 0.6 percent, while China’s Shanghai Composite rose 0.1 percent. Japan’s Nikkei 225 dropped 1.2 percent as investors locked in gains following recent rallies. The Korean won weakened to 1,485.8 per U.S. dollar amid spike in oil prices. 2026-04-30 11:26:47
  • KOSPI rebounds to fresh high, shrugging off AI jitters
    KOSPI rebounds to fresh high, shrugging off AI jitters SEOUL, April 29 (AJP) - Korea’s benchmark KOSPI stood out in Asia on Wednesday, closing at a fresh record high after rebounding from early losses driven by concerns over the sustainability of the artificial intelligence-driven rally. The KOSPI rose 0.8 percent to close at 6,690.90, after hitting a low of 6,596.03 throughout the trading session. The index later reversed course to hit today's high of 6,702.38, highlighting resilient buying momentum despite external headwinds. Institutional investors led the gains, purchasing 478.3 billion won ($323.6 million), worth of shares, as retail investors added 166.9 billion won. Foreign investors, however, sold 607.1 billion won, indicating persistent external selling pressure even as domestic investors absorbed the outflows. The market opened weaker after concerns intensified over the profitability of artificial intelligence investments, following reports that OpenAI had fallen short of internal targets for user growth and revenue. The news weighed on global technology sentiment and pressured semiconductor shares early in the session. Heavyweight chipmakers showed mixed performances. Samsung Electronics rose 1.8 percent to 226,000 won, helping support the broader index, while SK hynix slipped 0.5 percent to 1,293,000 won, reflecting sensitivity to shifts in AI-related sentiment. Gains were led by energy, defense and industrial shares, as investors rotated into sectors benefiting from rising oil prices and escalating geopolitical tensions. Hanwha Aerospace advanced 1.8 percent, while HD Hyundai Heavy Industries climbed 3.5 percent. SK Square gained 2.3 percent and Doosan Enerbility rose 1.1 percent. Oil prices remained elevated amid supply concerns linked to tensions surrounding the Strait of Hormuz, with Brent crude trading above $113 per barrel and West Texas Intermediate holding above $101, reinforcing inflation concerns and supporting energy-related stocks. Investors also remained cautious ahead of the United States Federal Reserve’s policy decision, focusing on its outlook for inflation as rising energy prices add to global cost pressures. The KOSDAQ also closed higher, rising 0.4 percent to 1,220.30 after moving between 1,206.11 and 1,220.94 during the session. On the secondary bourse, retail investors bought 143.2 billion won worth of shares, while foreign and institutional investors sold 19.6 billion won and 83.8 billion won, respectively, reflecting a divergence in investor positioning. Among KOSDAQ stocks, performance was mixed, with gains in select biotech names offset by declines in semiconductor and robotics shares. Alteogen rose 0.9 percent, while Rainbow Robotics fell 0.6 percent and Ecopro BM slipped 0.5 percent. The Korean won weakened to 1,477.9 per dollar, down 4.3 won from the previous session. In other parts of Asia, Hong Kong’s Hang Seng Index rose 1.4 percent to 26,032.7 and China’s Shanghai Composite gained 0.7 percent to 4,107.5, while Japan’s Nikkei 225 fell 1.0 percent to 59,917.5. 2026-04-29 17:41:28
  • Hyundai flags battery subscription to spark EV boom from high fuel cost
    Hyundai flags battery subscription to spark EV boom from high fuel cost SEOUL, April 29 (AJP) - Contrary to the expectation that the Gulf-triggered energy crisis could renew the appetite for "plugging in," EV demand remains subdued. South Korea’s Hyundai Motor Group hopes to make the choice easier through a novel concept: lending battery chargers and subscriptions. Energy costs have climbed sharply amid the prolonged conflict between the United States and Iran. In Korea, gasoline prices rose from 1,819.2 won per liter in the fourth week of March to 2,003.8 won in the fourth week of April—an increase of nearly 200 won in just one month. Despite the pain at the pump, EV sales have not picked up as purchasing power remains constrained by a prolonged economic slowdown in Korea. Hyundai’s EV sales posted an overall decline in March, despite gains in some entry-level models. Ioniq 5 sales fell from 3,222 units in February to 2,382 in March and Ioniq 9 dropped from 1,751 to 1,239. Only the entry-level Casper Electric provided a rare boost, rising from 472 to 1,201 units. Overall, Hyundai's total EV sales declined from 5,445 to 4,822 units. Its sister carmaker, Kia, fared better. EV3 sales increased to 4,303 units, the EV5 surged from 2,524 to 6,884 units, and the PV5 jumped from 3,967 to 8,086 units, lifting Kia's total EV sales from 9,960 to 19,273 units. The broader market trend points to a shift in consumer behavior. Global auto demand fell 7.2 percent year-on-year in the first quarter, reflecting uncertainty tied to geopolitical risks. In this climate, hybrids are gaining traction as a more practical alternative. Hyundai Motor reported that global hybrid (HEV) sales reached 174,000 units in the first quarter—outselling its EVs (59,000 units) by nearly three times. HEV sales rose about 27 percent from a year earlier, with their share of total sales reaching a record 17.8 percent. In the United States, hybrids accounted for a record 24.8 percent of Hyundai’s sales. The gap between EV adoption and hybrid growth highlights ongoing concerns over EV ownership, particularly regarding battery life. “Since you usually keep a car for over 10 years, there is always concern about how long the battery will last,” said Oh Jun-su, a 34-year-old brand designer in Seoul who has driven a Kia EV4 for a year. He noted that EVs lack appeal on the used car market due to the battery factor. Replacement costs are a major hurdle, with industry estimates suggesting a new battery for a Kia EV6 can cost around 25 million won ($17,000). Hyundai is aiming to solve this through a battery subscription model. The conglomerate will begin a pilot program in the first half of the year, starting with Ioniq 5 taxis in the Seoul metropolitan area. The program focuses on corporate fleets whose warranties have expired. Under this model, users pay a monthly fee instead of purchasing the battery and can replace it when performance drops. This approach is supported by a regulatory sandbox that allows vehicles and batteries to be registered separately. In parallel, the company is expanding subscription-based charging. EV charging provider Chaebi has launched a package in partnership with Hyundai, offering discounted rates for monthly fees of 9,900 won or 19,900 won. Together, these efforts suggest automakers are experimenting with new usage models to finally lower the barriers to EV adoption. 2026-04-29 17:36:53
  • KOSPI extends rally, hitting new milestone
    KOSPI extends rally, hitting new milestone SEOUL, April 28 (AJP) - South Korea's benchmark KOSPI closed Tuesday at a new high after testing a new milestone as the sole winner in Asia. The main bourse added 0.4 percent to finish at 6,641.02 points after climbing as high as 6,712.73, extending its winning streak to a seventh consecutive session. Institutional investors purchased 351.1 billion Korean won (US$270 million) worth of shares, while foreign and retail investors sold 184.5 billion won and 130.3 billion won, respectively, indicating that the rally was increasingly driven by domestic institutional flows as other investors took profits. The rally has been underpinned by sustained global inflows into artificial intelligence (AI)-linked semiconductor stocks, with the country's market capitalization surging more than 45 percent this year to around $4.04 trillion, overtaking the United Kingdom and highlighting its growing prominence in the global AI investment cycle. The gains reflect South Korea's outsized exposure to AI-linked sectors, amplifying its outperformance relative to regional peers. Among major stocks, SK hynix rose 0.6 percent to 1,300,000 won, while Hyundai Motor jumped 5.9 percent to 555,000 won, reflecting a broadening of the AI-driven rally beyond semiconductors as investor interest extended to automakers amid growing expectations for partnerships in autonomous driving and robotics. Samsung Electronics, however, fell 1.1 percent to 222,000 won, signaling profit-taking in index heavyweights following recent gains. In contrast, the junior KOSDAQ fell 0.9 percent to close at 1,215.6, reversing earlier strength as foreign and institutional investors offloaded a combined 786.8 billion won worth of shares. Retail investors bought a net 796.0 billion won, helping to limit losses. The divergence between the two major indexes highlights a shift toward large-cap, AI-linked stocks at the expense of higher-risk stocks. Biotech and high-growth stocks led declines, reflecting continued pressure on high-valuation segments, even as some battery-related shares showed resilience. The South Korean won edged down to 1,474.0 per dollar amid lingering global uncertainty. Elsewhere in Asia, Japan's Nikkei 225 fell 1.1 percent to 59,917.5 after the Bank of Japan held its policy rate at 0.75 percent while signaling the possibility of further tightening. China's Shanghai Composite slipped 0.2 percent and Hong Kong's Hang Seng Index dropped 0.9 percent, as elevated energy prices and geopolitical risks weighed on regional sentiment. Meanwhile, oil prices extended gains, with Brent crude hovering above $110 per barrel amid prolonged disruptions in the Strait of Hormuz. 2026-04-28 17:52:56
  • Netflix wins tax battle in Seoul to pay little despite massive revenue in Korea
    Netflix wins tax battle in Seoul to pay little despite massive revenue in Korea SEOUL, April 28 (AJP) - A South Korean court ruled in favor of Netflix, ordering tax authorities to refund most of the roughly 80 billion won ($58 million) it had imposed on the global streaming giant, in a decision that underscores the limits of taxing cross-border digital services. The Seoul Administrative Court sided with Netflix Services Korea in a lawsuit filed in November 2023 seeking to cancel 76.2 billion won of the total tax assessment following a probe into its income. At issue was whether payments made by the Korean unit to its Netherlands-based affiliate, Netflix International B.V., should be treated as royalty income — subject to domestic taxation — or business income, which is exempt under the South Korea–Netherlands tax treaty if the foreign entity lacks a permanent establishment in Korea. Tax authorities argued the payments were royalties tied to the use of intellectual property. Netflix maintained they were business income derived from services provided overseas. The court ruled that the payments were not compensation for copyrights but service fees related to streaming services, noting that key functions such as content storage and transmission were performed by the overseas entity. It found that the Korean unit mainly handled platform operations, marketing and user management, while operating under a structure in which it retained a fixed margin and remitted the bulk of revenue to its parent — a model consistent with a service arrangement rather than intellectual property licensing. The ruling comes as Netflix continues to expand its presence in Korea’s over-the-top (OTT) market. According to its disclosure last week, Netflix Services Korea posted revenue of 1.05 trillion won last year, up 17 percent from a year earlier, marking its highest level since launching in the country in 2016. Operating profit rose to 20.3 billion won. Netflix’s monthly active users reached 15.6 million in December, up 20 percent on year and nearly double that of second-ranked Coupang Play. Despite strong top-line growth, profitability remains limited. The company’s operating margin has hovered around 2 percent for several years, as more than 80 percent of its local revenue is paid to its headquarters under “membership purchase” costs. Last year, about 8.5 trillion won — roughly 81 percent of domestic revenue — was remitted overseas. As a result, Netflix paid 6.6 billion won in corporate tax in Korea, equivalent to 0.6 percent of revenue, below the 1.1 percent average for foreign firms, according to CEO Score. The tax authority has not yet indicated whether it will appeal the ruling. However, Netflix Korea said "Netflix complies with tax laws and regulations in all countries where it operates and will continue to invest in Korean content and its broader ecosystem while cooperating with local authorities, regardless of the court’s decision." 2026-04-28 16:39:12
  • NEXZ returns with Mmchk as JYP sharpens global group strategy
    NEXZ returns with 'Mmchk' as JYP sharpens global group strategy SEOUL, April 27 (AJP) — Rookie boy group NEXZ is back with its second single “Mmchk,” underscoring JYP Entertainment’s evolving strategy to globalize the K-pop model through multinational lineups. The seven-member group held a showcase in Seoul on Sunday to mark the release of the single album at Blue Square Woori Bank Hall in Yongsan District. Formed through “Nizi Project Season 2,” a joint audition program between JYP and Sony Music Japan, NEXZ embodies a growing industry trend: exporting Korea’s idol training system while localizing talent. The group consists of six Japanese members—Tomoya, Yu, Haru, Hyui, Yuki and Seita—and one Korean member, So Geon. The survival-style program evaluated roughly 20 contestants on vocals, dance, stage presence and character, with only those meeting all criteria advancing. Unlike NiziU, which debuted primarily in Japan, NEXZ first launched in South Korea before expanding outward—signaling a more integrated, reverse-entry approach to global markets. The members underwent training periods ranging from two to over four years. Tomoya and Hyui joined JYP as early as 2019, while others entered through the structured audition pipeline. NEXZ debuted in May 2024 with “Ride the Vibe” and returns about six months after its previous release, the mini album “Beatboxer” in October 2025. The group has since gained early traction, winning Best New Artist at ASEA 2025 and being named among the “Best 5 New Artists” at the Japan Gold Disc Awards. The title track “Mmchk,” a bass-house dance number, features lyrical contributions from members Yuki, Hyui and Tomoya—part of an effort to shape the group’s own musical identity. “We can’t believe it’s already been two years since our debut—it still feels like yesterday,” Yu said during the showcase. “With the experience we’ve gained, we hope to reach more people through this comeback.” “It’s our first release in about six months, and we know fans have been waiting,” he added. “We’ll do our best to show growth both musically and on stage.” Reflecting on the group’s evolution, Tomoya said, “I remember how nervous I was before our debut. Now we’ve gained confidence and a clearer identity as NEXZ.” Members who participated in writing the lyrics said the track conveys a message of mutual inspiration. “We wanted to express that ‘because you shine, we can shine too,’” they said, noting the challenge of writing in Korean. On performance, the group emphasized flexibility over categorization. “Rather than defining ourselves within a specific genre, we want to present our own style and deliver performances that audiences keep coming back for.” Addressing the coined term “Mmchk,” So Geon described it as a symbolic keyword representing the group’s desire for recognition. “We hope it becomes something people naturally associate with NEXZ,” he said. Despite a crowded comeback season, the group struck an optimistic tone. “There is some pressure, but more than that, we feel excited,” he added. “It’s an opportunity to show everything we’ve prepared.” Seita said the group aims to earn its first music show win, while Hyui added that a special performance is planned if that goal is achieved. NEXZ will continue its global push with a showcase tour starting in Taipei next month, followed by Hong Kong and Bangkok. The single “Mmchk” will be released on major music platforms at 6 p.m. Monday, marking the start of full promotional activities. 2026-04-27 18:12:00
  • KOSPI, Nikkei close at all-time highs on chip rally, strong institutional buying
    KOSPI, Nikkei close at all-time highs on chip rally, strong institutional buying SEOUL, April 27 (AJP) - South Korea's benchmark KOSPI closed at a fresh record high on Monday, while Japan's Nikkei 225 also finished at an all-time high, as semiconductor-driven gains and strong institutional inflows outweighed concerns over rising oil prices amid the prolonged conflict in the Middle East. The KOSPI rose 2.2 percent to close at 6,615.03 points, after swinging between a low of 6,529.20 and a record intraday high of 6,657.22. Institutions bought 1.10 trillion won (US$747 million) worth of shares, while foreign investors added 888.5 billion Korean won. Retail investors, meanwhile, sold 1.97 trillion won, indicating a rally driven by institutional and offshore flows as risk appetite improved. Large-cap semiconductor stocks led the rally, buoyed by gains in U.S. tech equities and a sharp rise in the Philadelphia Semiconductor Index. Samsung Electronics climbed 2.3 percent to 224,500 won, while SK Hynix jumped 5.7 percent to 1,292,000 won, after hitting an intraday high of 1,317,000 won as investors bet on a sustained memory upcycle and accelerating AI-driven demand. Auto-related stocks also stayed firm, with Hyundai Motor rising 2.1 percent to 524,000 won on improving margin expectations, while others showed mixed trends. Doosan Enerbility gained 1.4 percent and HD Hyundai Heavy Industries edged up 0.3 percent, whereas Hanwha Aerospace slipped 0.6 percent amid profit-taking after recent gains. Battery makers underperformed, with LG Energy Solution falling 3.5 percent to 464,000 won and Samsung Biologics declining 1.2 percent to 1,509,000 won, as investors rotated into semiconductor and cyclical names. Among notable movers, Hyosung Heavy Industries jumped 11.8 percent to 3,971,000 won after brokerages raised target prices on strong North American order momentum, while Korea Zinc ended flat at 1,642,000 won despite progress in its U.S. smelter project. The junior KOSDAQ rose 1.9 percent to close at 1,226.20, after trading between 1,209.30 and 1,229.40. Institutional investors bought 79.9 billion won and retail investors added 139.9 billion won, while foreign investors sold 180.0 billion won. Gains on the junior bourse were led by biotech and robotics shares, reflecting continued retail driven momentum in high growth sectors. Alteogen rose 3 percent to 380,000 won, Rainbow Robotics jumped 9.8 percent to 672,000 won and Samchundang Pharm gained 8.6 percent to 447,000 won, while Ecopro edged up 0.1 percent. Japan's Nikkei 225 also closed at a record high, rising 1.4 percent to 60,537.4, supported by technology gains, ahead of the Bank of Japan's policy decision. Investors widely expect rates to remain unchanged but are watching for any signals on potential tightening as inflation pressures persist. Elsewhere in Asia, China's Shanghai Composite Index rose 0.2 percent to 4,086.34, while Hong Kong's Hang Seng Index slipped 0.2 percent to 25,922.6, reflecting cautious sentiment as investors balanced strong tech momentum against rising oil prices and geopolitical uncertainty. Earlier, U.S. markets closed mixed last Friday, with the Dow Jones Industrial Average falling 0.2 percent, while the S&P 500 rose 0.8 percent and the Nasdaq Composite gained 1.6 percent. The Philadelphia Semiconductor Index jumped 4.3 percent, boosting optimism around the global chip cycle and supporting gains in Asian semiconductor shares. Attention is now turning to a packed global calendar including earnings from major U.S. technology firms and a policy decision from the Bank of Japan, which is expected to provide signals on the future path of monetary policy. Meanwhile, oil prices extended gains as supply concerns intensified. Brent crude held above US$107 per barrel, up 2.5 percent, while WTI rose 2.2 percent to around $96.5, as stalled U.S.-Iran negotiations and continued disruption in the Strait of Hormuz fueled fears of a prolonged supply shock, raising concerns over inflation and global growth. The Korean won strengthened against the dollar, with the currency closing at 1,472.1 won, up 0.4 percent from the previous session, supported by renewed foreign inflows into local equities. 2026-04-27 17:16:16
  • KOSDAQ hits 25-year high as Asia trades mixed on oil, Middle East tensions
    KOSDAQ hits 25-year high as Asia trades mixed on oil, Middle East tensions SEOUL, April 24 (AJP) - Korea’s junior index KOSDAQ emerged as the winner on Friday as it hit a 25-year high, while broader Asian markets stayed mostly sidelined under pressure from rising oil prices and escalating Middle East tensions. The KOSDAQ rose 2.5 percent to close at 1,203.84, swinging between 1,172.32 and its intraday high. Foreign investors bought a net 729.3 billion won ($491 million) worth of shares, while institutions followed with 187.7 billion won. Retail investors sold 901.6 billion won. Biotech and growth stocks led the rally, as funds rotated out of large-cap technology shares following recent gains. Among major KOSDAQ stocks, Ecopro fell 0.4 percent to 156,600 won, while Alteogen rose 1.2 percent to 369,000 won and Rainbow Robotics gained 2.0 percent to 612,000 won. Samchundang Pharm surged 8.3 percent to 411,500 won, and Peptron jumped 10.1 percent to 278,500 won. The benchmark KOSPI finished little changed, up 0.03 percent to 6,475.6, taking a breather after its record run before seizing the 6,500 mark. Retail investors bought a net 1.18 trillion won, while institutions added 805.3 billion won. Foreign investors sold 1.95 trillion won, weighing on the index. Among large-cap stocks, Samsung Electronics fell 2.2 percent to 219,500 won and SK hynix slipped 0.2 percent to 1,222,000 won, as investors locked in profits following a recent rally. Hyundai Motor dropped 3.6 percent to 513,000 won, and Kia fell 3.2 percent to 153,400 won after reporting weaker earnings. In contrast, HD Hyundai Heavy Industries rose 4.7 percent to 671,000 won, while Hanwha Aerospace gained 2.7 percent to 1,463,000 won. Doosan Enerbility climbed 3.7 percent to 127,100 won, supported by expectations of increased demand for nuclear and power infrastructure amid heightened geopolitical risks. Japan’s Nikkei 225 rose 1.0 percent to close at 59,716.18, supported by semiconductor gains. Data showed Japan’s core consumer inflation rose 1.8 percent on year in March, remaining below the central bank’s 2 percent target and reinforcing expectations of gradual policy normalization. China’s Shanghai Composite Index fell 0.3 percent to 4,079.9, while Hong Kong’s Hang Seng Index gained 0.24 percent to 25,976.4. Corporate earnings highlighted mounting cost pressures. Kia reported a 26.7 percent drop in first-quarter operating profit despite record sales, citing higher U.S. tariff costs and logistics disruptions. Hyundai Steel returned to profit with operating profit of 15.7 billion won, while revenue rose 3.2 percent on year to 5.74 trillion won, though margins remained under pressure from higher raw material costs. Meanwhile, Hyundai Mobis reported operating profit of 802.6 billion won, up 3.3 percent from a year earlier, supported by strong demand for electrification components and aftermarket parts. The Korean won weakened slightly to 1,483.6 per dollar, while Brent crude held above $105 a barrel, extending gains amid concerns over supply disruptions linked to Middle East tensions. 2026-04-24 17:37:20
  • Kia Q1 profit fall near 30% on higher U.S. tariffs and Gulf shipping costs
    Kia Q1 profit fall near 30% on higher U.S. tariffs and Gulf shipping costs SEOUL, April 24 (AJP) — South Korean carmaker Kia, like its sister company Hyundai Motor, suffered a double-digit decline in earnings in the first quarter despite record sales, as higher tariff costs on U.S. shipments and shipping disruptions linked to Gulf tensions weighed on profitability. Operating profit fell 26.7 percent on year to 2.2 trillion won ($1.52 billion), reflecting an estimated 755 billion won increase in U.S.-related tariff costs compared to a year earlier, the company said Friday. Sales nevertheless rose 5.3 percent on year to a record 29.5 trillion won on strong demand for SUVs and electrified vehicles, even as overall industry conditions softened. Global wholesale volumes edged up just 0.9 percent to around 780,000 units, pointing to limited volume growth behind the top-line expansion. Operating margin fell to 7.5 percent from 10.7 percent a year earlier, as increased production and shipping costs eroded profitability. The cost of sales ratio rose to 80.3 percent from 78.3 percent, while selling and administrative expenses jumped 17.1 percent, underscoring mounting cost pressure. The decline was largely cost-driven, with tariff impacts, rising raw material prices and increased incentives — particularly in Europe — weighing on profitability, alongside a weaker regional mix and higher warranty-related expenses. Regional performance remained mixed. While India and Latin America posted strong growth of 11.6 percent and 34.6 percent, respectively, North America saw volumes decline 2.1 percent and the Middle East plunged 31.2 percent, reflecting the impact of the war. Despite an overall 5.5 percent fall in car demand in the U.S., Kia’s sales rose 4.1 percent and its market share climbed to 5.6 percent, helped by hybrid and EV sales surging 73.5 percent and accounting for 19.3 percent of total sales. Kia shares closed Friday at 153,400 won down 3.2 percent. 2026-04-24 15:55:24