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Samyang Foods Surpasses 600 Billion Won in Overseas Sales for the First Time Samyang Foods has achieved a significant milestone, surpassing 600 billion won in overseas sales for the first time in a quarter, driven by the growth of its Buldak Bokkeumyeon brand. The company also maintained an operating profit margin above 20% for six consecutive quarters, balancing growth and profitability.In its Q2 earnings report released on August 14, Samyang Foods announced a consolidated operating profit of 176.2 billion won, a 46.7% increase compared to the same period last year. Revenue for the same period rose by 39.3% to 770.3 billion won.The growth in performance was primarily attributed to overseas operations. In Q2, overseas sales reached 645.8 billion won, marking a 46.7% increase year-on-year. This is the first time quarterly overseas sales have exceeded 600 billion won, setting a new record.Samyang Foods explained that the enhancement of its overseas distribution network and improvements in the efficiency of domestic production facilities, such as the Miryang plant, supported global demand. The flagship Buldak brand continues to grow in international markets, having surpassed cumulative sales of 10 billion units by the end of May.Regionally, major overseas subsidiaries showed balanced growth. Sales in the Americas reached 203.6 billion won, a 54% increase from the previous year, driven by expanded distribution channels in the U.S. and increased sales in Central America, including Mexico.In China, sales grew by 44% year-on-year to 181.0 billion won, aided by the expansion of sales channels in the snack sector.Europe exhibited the most rapid growth, with sales soaring by 61% year-on-year to 80.6 billion won, supported by strong performance in key markets like Germany and France and an expansion of its market presence.Profitability remained robust, with Samyang Foods reporting an operating profit margin of approximately 23% in Q2, maintaining over 20% for six consecutive quarters. Analysts attribute this to improved sales channel composition, increased production efficiency, and favorable exchange rates.The company also reported strong cumulative results for the first half of the year, with revenue reaching 1.4847 trillion won, a 37.2% increase compared to the same period last year. Operating profit rose by 39.0% to 353.3 billion won, while net profit for the half-year increased by 54.1% to 282.0 billion won.A representative from Samyang Foods stated, "We will continue to support global demand by strengthening the roles of our overseas subsidiaries and enhancing our domestic and international production infrastructure."* This article has been translated by AI. 2026-08-14 18:12:10 -
SK Innovation and TerraPower Collaborate on Sodium SMR Project SK Innovation and TerraPower have signed a key agreement to explore the global expansion and domestic application of TerraPower's next-generation sodium-cooled small modular reactor (SMR) 'Natrium.'On August 14, SK Innovation announced that CEO Choo Hyung-wook and TerraPower CEO Chris Levesque met in Seoul to finalize the agreement on sodium SMR collaboration and the global market entry of the next-generation SMR.The agreement includes plans for: expanding SK Innovation's participation in the SMR demonstration reactor and subsequent commercial projects being constructed by TerraPower in the U.S.; enhancing the domestic supply chain for SMRs; and jointly developing sodium SMR projects in South Korea and globally.The two companies will comprehensively review regulatory, industrial, and power system conditions related to global business and will gradually specify the direction of the Korean sodium SMR business model, known as 'K-Sodium.' They also plan to expand participation from domestic research and design institutions and nuclear power equipment companies to utilize the domestic supply chain for key sodium SMR components and establish a Korean design and project execution system.During a subsequent dinner, SK Group Chairman Chey Tae-won and TerraPower Board Chair Bill Gates discussed the response to power demand from the expansion of AI data centers, the development direction of the next-generation nuclear power industry, and the potential for Korea-U.S. nuclear cooperation.The sodium SMR is based on TerraPower's fourth-generation sodium-cooled fast reactor (SFR). It combines a reactor with a molten salt-based thermal energy storage system (TES), allowing it to store heat produced by the reactor for use during peak demand, thus providing stable baseload power and output flexibility.SK Innovation also plans to increase its participation in TerraPower's sodium SMR project 'Kemmerer Unit 1,' currently being developed in Wyoming, along with subsequent commercial projects.The Kemmerer Unit 1 SMR project received construction approval from the U.S. Nuclear Regulatory Commission (NRC) in March, marking it as the first commercial advanced reactor approved in the U.S.Additionally, the two companies agreed to jointly explore SMR projects in the U.S. that can be linked to policy and financial support from both Korea and the U.S. They will specify the feasibility of each project, funding, supply chain composition, and construction and operation plans, while also seeking collaboration with the U.S. government and relevant agencies.This agreement allows SK Innovation to expand its role beyond being a strategic investor in TerraPower to directly participating in SMR business development and project execution.Choo Hyung-wook, CEO of SK Innovation, stated, "This agreement is significant as it demonstrates our collaboration with TerraPower to explore the domestic application of sodium SMRs in response to power demand from AI data centers and to expand our global business. We will closely communicate with TerraPower to specify the direction of the K-Sodium business model and enhance our business development and operational capabilities through participation in U.S. projects, thereby expanding our entry into the global market."Meanwhile, SK Innovation and SK Inc. became the second-largest shareholders of TerraPower in 2022 after jointly investing $250 million. 2026-08-14 18:00:20
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Kolon Reports 129.4% Increase in Q2 Operating Profit to 99.8 Billion Won Kolon announced on August 14 that it recorded sales of 1.7 trillion won, an operating profit of 99.8 billion won, and a net profit of 55.4 billion won for the second quarter of 2026. Compared to the same period last year, sales increased by 13.5%, while operating profit surged by 129.4%.Kolon Industries, a subsidiary applying the equity method, saw growth in both sales and operating profit year-on-year, driven by expanded sales of key industrial materials such as airbags, tire cords, and aramid, increased demand in the chemical sector, and steady growth of major brands in the fashion segment.Kolon Global, another subsidiary, improved profitability through stabilized cost rates in the construction sector, the ramp-up of non-residential project sales, synergies from the merger of its leisure and asset management businesses, and seasonal effects. In the first half of the year, Kolon Global achieved new orders totaling 985.4 billion won, primarily in the non-residential sector, and plans to maintain stable profitability through ongoing improvements in construction cost rates and a selective bidding strategy in the second half.Kolon Mobility Group exceeded its key management indicators, benefiting from strong sales of premium imported cars and the expansion of its used car business. The group plans to enhance its sales service infrastructure and build a comprehensive mobility ecosystem covering new and used cars, after-sales service, and data through its recently acquired auction business.In the manufacturing sector, Kolon Industries aims to strengthen its growth foundation by focusing on high-value-added industrial materials and enhancing operational efficiency in the second half of the year. The fashion segment is also expected to continue its growth trend by strengthening strategic product planning capabilities and expanding distribution channels.Previously, Kolon reported sales of 1.5 trillion won, an operating profit of 98.8 billion won, and a net loss of 44.7 billion won in the first quarter.* This article has been translated by AI. 2026-08-14 18:00:10
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Government Investigates Safety Violations in Seosomun Overpass Collapse Following the Seosomun overpass collapse in Seoul that resulted in six casualties in May, the government has confirmed safety management violations and referred the case to the Seoul Metropolitan Police Agency for investigation involving the city of Seoul, Korail, and the construction and supervision companies.On August 14, the Ministry of Land, Infrastructure and Transport announced that it had requested an investigation into charges of negligent homicide and obstruction of business against the relevant parties based on the results of a recent inspection of the overpass demolition work.From June 4 to June 19, the ministry conducted inspections in collaboration with the Korea Transportation Safety Authority, uncovering multiple violations.The investigation revealed that the construction and supervision companies conducted safety inspections without Korail's approval at the time of the incident. They also fabricated documents to falsely indicate that they had received approval for a 'S9 slab overturn prevention installation' that was not included in the original work plan, and deployed 13 workers on-site instead of the four specified in the agreement.Additionally, issues were found with the safety measures taken by the city of Seoul prior to the accident. The city was supposed to halt construction immediately in case of an emergency, notify the Korea Railroad Corporation and Korail, and request a suspension of train operations. However, despite being informed of a 2.9 cm height difference that led to the bridge collapse, the city failed to take any significant action before the incident.Korail also did not identify discrepancies in the work details during the railway operation safety consultation process. The basic work plan included work on sections S8 and P7, but the safety consultation submitted on the day of the collapse listed work on section S9, where the collapse occurred. Korail proceeded with the consultation without verifying this discrepancy.Separately, the Ministry of Land, Infrastructure and Transport issued two corrective orders and four improvement recommendations to the Korea Railroad Corporation and Korail. These include enhancing the review of safety management plans for high-risk work and improving procedures to ensure consistency between work plans and actual work conducted during railway operation safety consultations.Cho Seong-kyun, director of railway safety policy at the ministry, stated, "The Seosomun overpass collapse could have been mitigated if the approval procedures had been followed. We will rigorously identify accountability through the investigation of the relevant agencies."Earlier in May, part of the overpass collapsed during demolition in the Migeun-dong area of Seodaemun-gu, resulting in three fatalities and three injuries.* This article has been translated by AI. 2026-08-14 18:00:00
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Korea's Export-Import Bank President Meets Bill Gates to Discuss SMR Financing Hwang Gi-yeon, president of the Korea Export-Import Bank, met with Bill Gates, chairman of the Gates Foundation, to discuss financial cooperation for the commercialization of small modular reactors (SMR).On August 14, Hwang and Gates discussed financial support for global nuclear power projects being pursued by TerraPower and Korean companies. Gates is also the founder of TerraPower.The Export-Import Bank plans to provide tailored financial packages that combine loans and guarantees for future nuclear projects involving TerraPower and Korean firms.As SMR enters a phase of large-scale deployment, the bank is also exploring ways to expand cooperation with global financial institutions, including the U.S. Export-Import Bank, to establish a joint financial support system.Gates stated, "The excellent manufacturing and construction capabilities of Korean companies, along with the tailored financial support from the Export-Import Bank, will be key drivers in accelerating the commercialization of TerraPower's SMR. I hope our collaboration will serve as a catalyst for the global transition to clean energy and entry into third-country markets."Hwang emphasized, "By combining Korea's world-class K-nuclear supply chain with the financial support capabilities of the Export-Import Bank, we will actively support our companies in securing a leading position in the global SMR market."* This article has been translated by AI. 2026-08-14 18:00:00
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Hyundai Motor Group Partners with Army to Implement Physical AI in Defense Hyundai Motor Group is collaborating with the Army to apply robotics and physical artificial intelligence (AI) technology in defense operations. The initiative aims to enhance the efficiency of military support tasks by integrating advanced technology into dangerous and repetitive duties traditionally performed by soldiers.On August 14, Hyundai Motor Group announced that it signed a memorandum of understanding (MOU) with the Army and the Ministry of Trade, Industry and Energy at the Army Headquarters in Gyeryong, South Chungcheong Province, to expand the use of robotics, physical AI, and advanced technologies.This agreement was established to explore the potential applications of physical AI and other advanced technologies in the defense sector, in response to a decrease in military personnel and an increasing demand for cutting-edge technology. It also aims to test these technologies in real military operational environments.Hyundai Motor Group will examine ways to apply physical AI in the defense sector in collaboration with government agencies. The group plans to engage in joint research on key technologies, including AI data, and to explore the use of hydrogen mobility and infrastructure, as well as projects linked to the Saemangeum AI Valley. They will also take the lead in establishing testbeds and operating pilot projects.Specifically, starting this year, the Army's Pangyo 'AX Base' will analyze data collected during the testing process to identify areas for technological improvement through joint military-civilian research. The military AX bases are part of a civilian-military-academic convergence ecosystem being established in five regions, including Pangyo, to quickly integrate the latest civilian AI technologies into the defense sector.The potential military applications of hydrogen technology will also be explored. Kia completed testing and evaluation of hydrogen-powered all-terrain vehicles (ATVs) with the military in May of last year. Additionally, the group is looking to connect a robotics manufacturing cluster and an AI data center to the Saemangeum AI Valley.A Hyundai Motor Group official stated, "We will contribute to building a safe and efficient military support system and enhancing the competitiveness of domestic physical AI through technology validation and joint research that reflects on-site demands."Meanwhile, Hyundai Motor Group is expanding its business into military and firefighting sectors. Hyundai has donated unmanned firefighting robots and medical wearable robots, Exoskeleton Max, to the Fire Agency to ensure the safety of firefighters.Kia has been expanding its military vehicle business since being designated as a defense contractor in 1973, producing 2.5-ton trucks and 5-ton trucks. According to Kia's special business division, the delivery volume of military special vehicles is projected to be 6,122 units in 2024, up from 5,789 units last year. 2026-08-14 17:56:00
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Kyobo Life Reports 21% Increase in First-Half Net Profit to 704.8 Billion Won Kyobo Life's consolidated net profit for the first half of the year increased, thanks to the performance of subsidiaries like SBI Savings Bank. While the net profit from the insurance segment declined, new contracts, particularly in health insurance, contributed to growth in the contract service margin (CSM), a key indicator of future profitability.On August 14, Kyobo Life announced that its consolidated net profit for the first half of the year reached 704.8 billion won, a 21.0% increase compared to the same period last year.In contrast, standalone net profit fell to 478.6 billion won, down 18.2%. The insurance profit decreased by 10.3% to 227.5 billion won, influenced by the application of new actuarial guidelines in the second quarter.Investment income also dropped 18.7% year-on-year to 403.8 billion won. Although the company maintained steady investment returns by reinvesting maturing assets into high-yield investments, losses from the valuation and disposal of financial assets due to rising market interest rates in the second quarter were reflected in the results.The long-term profit base has expanded. The CSM for new contracts in the first half reached 806 billion won, a 51.5% increase from the previous year, driven by increased sales of protection insurance products such as health insurance.As of the end of June, the CSM for existing contracts stood at 6.925 trillion won, up 11.0% from the same period last year and 6.4% from the end of the previous year.* This article has been translated by AI. 2026-08-14 17:52:00
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Toss Reports Record Q2 Profit of 231.8 Billion Won Driven by Super App Effect Viva Republica, the operator of Toss, achieved its highest quarterly performance to date in the second quarter of this year, driven by increased revenue and improved profitability.On August 14, Toss announced that its consolidated net profit for the second quarter reached 231.8 billion won, a 308% increase compared to the same period last year.Operating profit was 209 billion won, up 149.7% from 83.7 billion won in the same quarter last year.For the first half of the year, the net profit stood at 232.8 billion won, reflecting a 120.2% increase year-on-year. Operating profit for the period was 246.1 billion won, a 59.2% rise.By business segment, revenue from the super app service increased by 70.3% year-on-year to 1.33 trillion won. Revenue from the payments network service rose by 29.7% to 561.3 billion won. 2026-08-14 17:52:00
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SK Ecoplant Reports 266% Increase in Q2 Operating Profit SK Ecoplant has reported a significant increase in its consolidated operating profit for the second quarter of this year, driven by the expansion of its AI data center and semiconductor infrastructure businesses.On August 14, SK Ecoplant announced that its consolidated operating profit for Q2 reached 5.336 trillion won, a 266% increase compared to the same period last year. During the same timeframe, revenue rose by 68% to 51.507 trillion won.On a standalone basis, the company recorded a pre-tax loss of 2.195 trillion won in Q2. However, it attributed its strong consolidated performance to the expansion of AI infrastructure projects and improvements in subsidiary performance.For the first half of the year, cumulative revenue was approximately 10.504 trillion won, with operating profit around 1.465 trillion won.SK Ecoplant plans to continue expanding its orders and performance in the AI and semiconductor sectors. A company representative stated, "We will continue to expand our AI infrastructure business and performance based on our portfolio in the AI and semiconductor value chain, including semiconductor fabs, AI data centers, and materials."Additionally, SK Ecoplant announced on August 13 that it has restructured its organization to establish a new AI data center business unit. This move aims to consolidate related functions and enhance design and construction competitiveness in response to the surging demand for AI data center construction.* This article has been translated by AI. 2026-08-14 17:48:20
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Han River ferry carries over 500,000 passengers in less than a year SEOUL, August 14 (AJP) - Seoul's water ferry service along the Han River has carried more than 500,000 passengers since its launch last fall, the Seoul Metropolitan Government said on Friday. According to the city government, the cumulative number of passengers stood at 501,430 as of Aug. 13, about a year after the service began on Sept. 18 last year, with nearly half of all trips taken on weekends. Early technical glitches caused several disruptions and service halts, keeping ridership at around 100,000 during the first six months through February. Since March, however, ridership has steadily increased as the service returned to normal and operations stabilized. Some 243,509 passengers or nearly half of all riders, used the service on Saturdays and Sundays. Yeouido was the busiest terminal with 177,893 passengers, followed by Jamsil with 69,227, Magok with 66,818, Ttukseom with 58,526 and Mangwon with 51,965. In a survey of riders conducted last month, about 97 percent said they were satisfied with the service, while about 93 percent said they planned to ride it again. To help residents enjoy the Han River at night, more departures will be available during evening hours starting this week. "The city will continue to gather feedback from passengers and analyze usage patterns to improve the service and make it more convenient," said Park Jin-young, a city official. AJP Takeaways: - Seoul's Han River water ferry service recorded 501,430 passengers as of Aug. 13, 2026, nearly a year after operations began on Sept. 18, 2025. - Weekend ridership accounted for 243,509 passengers, or nearly half of the total, with Saturdays and Sundays proving particularly popular. - Yeouido was the busiest Han River ferry terminal with 177,893 passengers, followed by Jamsil with 69,227, Magok with 66,818, Ttukseom with 58,526 and Mangwon with 51,965. - Ridership remained around 100,000 during the first six months through February 2026 because of technical glitches and service disruptions, but increased steadily from March as operations stabilized. - Passenger satisfaction was high, with about 97 percent of riders surveyed in July 2026 saying they were satisfied and 93 percent saying they planned to use the service again. The Seoul Metropolitan Government also began adding more evening departures from Aug. 2026. 2026-08-14 17:48:18