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  • Korean cosmetics firm Kolmar sets record high stock price amid strong Q2 results
    Korean cosmetics firm Kolmar sets record high stock price amid strong Q2 results Korean cosmetics manufacturer Kolmar has reached an all-time high stock price during trading, buoyed by its record performance in the second quarter of this year. The company's growth in the domestic cosmetics original design manufacturing (ODM) sector, along with increased orders from scale-up brands and rising overseas demand, has led to a significant improvement in its financial results, prompting analysts to raise their target prices.As of 9:32 a.m. on the Korea Exchange, Kolmar's stock was trading at 138,200 won, up 5,700 won (4.30%) from the previous trading day. At one point, the stock surged to 144,000 won, marking its highest price ever.The stock has seen a sharp increase this month, rising 39.18% from August 3 to August 12, ranking 20th among KOSPI stocks in terms of growth during that period.The surge in stock price is attributed to improved financial performance. Kolmar reported a consolidated operating profit of 110.3 billion won for the second quarter, a 50.2% increase compared to the same period last year. Revenue rose by 17.8% to 861.3 billion won, while net profit jumped 68.9% to 70.6 billion won. Notably, this marks the first time that quarterly operating profit in the cosmetics ODM industry has exceeded 100 billion won.For the first half of the year, cumulative revenue reached 1.5893 trillion won, up 14.8%, with operating profit increasing by 41.8% to 189.2 billion won. Net profit also saw a significant rise of 100.9% to 130.6 billion won.The domestic business has been the main driver of these results. In the second quarter, domestic standalone revenue was 430.4 billion won, a 31.2% increase year-on-year, while operating profit rose by 44.3% to 70.8 billion won. Analysts attribute this success to strong demand for skincare and sun care products, as well as the growth of existing indie brands, which has led to larger order volumes.Orina, a researcher at LS Securities, noted, "While the influx of new indie brands previously drove growth, we are now seeing a significant increase in order sizes from major scale-up brands. The global competitiveness of Kolmar and its clients is improving faster than market expectations."Analysts have collectively raised their target prices for Kolmar. On the same day, all 15 securities firms that issued reports on Kolmar increased their target prices, with Shinhan Investment & Securities setting the lowest at 153,000 won and LS Securities at the highest at 200,000 won.Park Hyun-jin, a researcher at Shinhan Investment & Securities, stated, "We believe that the increase in coverage of new indie clients, along with smooth responses to export demand in new categories, will continue to drive profit leverage effects from revenue growth in the third quarter for the Korean subsidiary."Kolmar has set a target for domestic standalone revenue of 430 billion won for the third quarter, with an operating profit margin of over 15%. LS Securities anticipates that production for year-end promotions in the U.S. and Europe will be concentrated in the third quarter, and the expansion of European exports for scale-up clients will emerge as a new growth axis.Additionally, the expansion of over-the-counter (OTC) sales in the U.S. and the launch of new products are expected to provide further momentum for sun care growth in the second half of the year and into next year. However, the impact of summer vacations in the third quarter may reduce operational days, which could affect actual sales capacity.* This article has been translated by AI. 2026-08-13 10:04:10
  • LG to Develop Skeleton and Ice Hockey Talent Through 2030
    LG to Develop Skeleton and Ice Hockey Talent Through 2030 LG is committed to nurturing sustainable athletes in skeleton and ice hockey, extending its sponsorship of the national teams through 2030.On August 13, LG announced the launch of its skeleton talent development program, "LG Future Slide," and the ice hockey support initiative, "LG Hockey Dreams." These programs aim to expand the athlete base, enhance core competitiveness, and increase public interest beyond mere financial sponsorship.The skeleton support system, developed in collaboration with the Korea Bobsleigh and Skeleton Federation, features a step-by-step training track from entry-level to national team selection. It includes a "Draft Combine" to assess the athletic abilities of prospective athletes at middle and high schools and universities, along with skeleton training sessions and start competitions.The ice hockey support program, operated with the Korea Ice Hockey Association, focuses on improving the skills of promising players and facilitating their entry into the global arena. Key initiatives include a goalie camp, scholarships for overseas league participation, and a tryout camp for the 2028 Dolomiti Val di Fiemme Winter Youth Olympics. The recently held goalie camp invited coaches from advanced leagues, such as the NHL, to teach elite middle school goalie players advanced defensive techniques.LG has also extended its sponsorship agreements with the skeleton and ice hockey national teams through 2030. The company has been the main sponsor of the skeleton team since 2015 and began supporting the women's ice hockey team in 2016, subsequently expanding its support to include all men's, women's, and youth teams.Since 2014, the number of registered skeleton athletes has more than doubled, with over 130 medals won on the international stage. Ice hockey has also seen its national team lineup expand from four to seven, with the Korean women's ice hockey team winning a historic silver medal at the 2024 Gangwon Winter Youth Olympics.An LG representative stated, "It is meaningful to nurture promising athletes and contribute to the development and expansion of these sports. We will continue to provide support to broaden the athlete base."* This article has been translated by AI. 2026-08-13 10:04:10
  • Hana Bank Offers Free Insurance for Young Renters Against Fraud
    Hana Bank Offers Free Insurance for Young Renters Against Fraud Hana Bank is launching an insurance policy that protects young renters from fraud, covering losses up to 300 million won. The bank announced on August 13 that it will provide the 'Youth Rent Contract Assurance Insurance' free of charge to its young customers, developed in collaboration with Hana Insurance. Eligible participants include individuals aged 19 to 34 who apply for Jeonse loans at Hana Bank and meet Hana Insurance's underwriting criteria. Hana Bank will cover the entire insurance premium. This product offers coverage for fraud that may occur from the signing of a rental contract to the early stages of moving in, with a maximum coverage of 300 million won. Key areas of protection include impersonation of landlords, contract damages due to forgery and fraud, document forgery such as land registry issues, and double contracts. If a tenant's rights are violated during the contract process, the policy will compensate for actual damages, such as deposits or down payments, within the coverage limit. However, losses incurred from not receiving a deposit back due to the landlord's financial difficulties are not covered, as this product specifically addresses fraud-related damages. Additionally, to maintain legal standing, tenants must complete their residency registration on the contract start date, and coverage may be limited if they move out without permission before the contract ends. A Hana Bank representative stated, "We created this insurance to reduce the risk of fraud for young people and support housing stability. We will continue to expand financial services that alleviate the housing burden for the youth."* This article has been translated by AI. 2026-08-13 10:00:00
  • SM Vexcel Battery Division Achieves Six Consecutive Years of Dispute-Free Labor Agreement
    SM Vexcel Battery Division Achieves Six Consecutive Years of Dispute-Free Labor Agreement SM Vexcel, a manufacturing subsidiary of SM Group, has successfully concluded its wage and collective bargaining agreement without disputes for six consecutive years, from 2021 to 2026.The company announced on August 13 that the signing ceremony for the 2026 labor agreement took place on August 12 at its headquarters in Gumi, North Gyeongsang Province. Key representatives from both labor and management, including CEO Choi Se-hwan and union chairman Ahn Hyo-yong, attended the event, reaffirming their commitment to a culture of coexistence and trust.Achieving a dispute-free labor agreement for six years is a rare accomplishment in the domestic manufacturing sector. The labor and management at SM Vexcel have focused on improving working conditions and enhancing employee welfare, in line with the management philosophy of SM Group Chairman Woo Oh-hyun, which emphasizes communication and partnership.With strengthened labor-management ties, the company plans to enhance its competitiveness in a challenging domestic and international environment by ensuring stable production of key products, including lithium ampule batteries for the defense industry, while also expanding collaboration with its clients.Choi Se-hwan, CEO of SM Vexcel, stated, "The successful labor agreement over the past six years has been possible due to the strong camaraderie and understanding between labor and management. We will continue to work towards establishing a partnership perspective and ensuring that the valuable outcome of a dispute-free agreement becomes deeply rooted in our organizational culture."Meanwhile, SM Vexcel is accelerating its efforts to capture the high-value battery market by expanding its business in specialized batteries for industrial and medical use, including lithium ampule batteries used in military radios and guided weapons.* This article has been translated by AI. 2026-08-13 09:56:10
  • SM Bexel Battery Division Achieves Six Consecutive Years of Dispute-Free Labor Agreement
    SM Bexel Battery Division Achieves Six Consecutive Years of Dispute-Free Labor Agreement SM Bexel, a manufacturing subsidiary of SM Group, has successfully concluded its wage and collective bargaining agreement (CBA) without disputes for six consecutive years, from 2021 to 2026.The company announced on August 13 that the signing ceremony for the 2026 CBA took place on August 12 at its headquarters in Gumi, North Gyeongsang Province. Key representatives from both labor and management, including CEO Choi Se-hwan and labor union chairman Ahn Hyo-yong, attended the event, committing to fostering a culture of coexistence and trust.Achieving six consecutive years of a dispute-free agreement is a rare accomplishment in the domestic manufacturing sector. The labor and management at SM Bexel have focused on improving working conditions and enhancing employee welfare, in line with the management philosophy of SM Group Chairman Woo Oh-hyun, which emphasizes communication and partnership.With strengthened labor-management ties, the company plans to enhance its competitiveness amid challenging domestic and international conditions by ensuring stable production of key products, such as lithium ampule batteries for the defense industry, and expanding collaboration with its clients.Choi Se-hwan, CEO of SM Bexel, stated, "The strong camaraderie and understanding between labor and management have allowed us to maintain a successful CBA for six years without major disagreements. We will continue to work hard to establish a partnership perspective and ensure that the valuable outcome of a dispute-free agreement becomes deeply rooted in our organizational culture."Meanwhile, SM Bexel is accelerating its efforts to capture the high-value battery market by expanding its business in specialized batteries for industrial and medical use, including lithium ampule batteries used in military radios and guided weapons.* This article has been translated by AI. 2026-08-13 09:56:00
  • Nexons Crazy Arcade Ends Service After 25 Years
    Nexon's 'Crazy Arcade' Ends Service After 25 Years Nexon's online game 'Crazy Arcade' has ended its service after 25 years.According to Nexon, 'Crazy Arcade' ceased operations at 9 a.m. on August 13. The game had been in service since its launch in 2001.'Crazy Arcade' is a competitive game where players use water balloons to trap opponents in bubbles. Its simple controls and cute characters attracted users from the start.In 2002, the game recorded a peak of 350,000 concurrent users. Even years after its release, it maintained over 100,000 concurrent users during the winters of 2006 and 2008, solidifying its status as a long-lasting game.While the game's rules were straightforward, it allowed for strategic play using items and maps. Players could use items to expand the range of their water balloons or rescue characters trapped in bubbles to defeat opponents.Characters such as Dao, Baechi, Dizzini, and Uni have become iconic figures representing Nexon beyond the game itself.Following the announcement of the service termination, users expressed their disappointment on the official website's bulletin board. Comments included, "I’ve been playing this game since elementary school, and it’s sad to see it go," and "I really feel like I’m getting older." Many users also urged Nexon not to end the service.Nexon stated that it decided to end the service because it could no longer provide satisfactory service to users.This service termination aligns with Nexon's recent efforts to reorganize its game portfolio. This year, Nexon has also decided to end the services of 'Bubble Fighter' and halted the development of the 'First Berserker: Kazan' DLC.As Nexon strengthens its business strategy of restructuring based on profitability and growth potential, 'Crazy Arcade' has concluded its 25 years of service.* This article has been translated by AI. 2026-08-13 09:56:00
  • Tencent Invests Over $8 Billion in AI Amid Cash Flow Challenges
    Tencent Invests Over $8 Billion in AI Amid Cash Flow Challenges As competition in artificial intelligence (AI) intensifies in China, tech giant Tencent has ramped up its AI investments, pouring over 11 trillion won (approximately $8 billion) into capital expenditures in the second quarter. The company has integrated AI into its existing businesses, including advertising and gaming, contributing to revenue growth.Tencent announced on August 13 that its capital expenditures for the second quarter surged by about 179% year-on-year to 52.784 billion yuan (around $8 billion). This figure significantly exceeded market expectations of 32.14 billion yuan and accounted for more than a quarter of the company’s second-quarter revenue.Despite being perceived as lagging behind competitors like Alibaba and ByteDance in the AI race, Tencent is making substantial investments in AI models and computing infrastructure. Tencent President Liu Qiangdong stated during a conference call, "Significant investment in computing power is necessary to successfully advance AI-based new businesses. In the long run, AI-driven operations will provide strong cash flow and investment returns for the group."Alongside its large-scale AI investments, Tencent is also accelerating the monetization of AI by integrating it into its existing operations in gaming, advertising, and social media.Tencent's second-quarter revenue reached 204.8 billion yuan, an 11% increase from the same period last year, surpassing Bloomberg's forecast by about 1%. Notably, advertising revenue grew by 22%, exceeding the first quarter's growth rate of 20%. Contrary to initial concerns about a slowdown in the advertising market due to China's economic downturn, improvements in advertising efficiency through AI contributed to revenue growth. Domestic gaming revenue also surged by 17%, maintaining a solid upward trend.Tencent Chairman Ma Huateng noted during the earnings announcement, "As we enter the third quarter, we are making significant progress in building a new Tencent based on intelligence, applications, and infrastructure."The company is also focused on enhancing its AI model competitiveness. It actively utilizes its large language model (LLM) 'Hy3' in services like the AI agent 'WorkBuddy' and plans to develop next-generation AI models that rival top-tier models from DeepMind and OpenAI by the end of the year.Bloomberg commented, "While Tencent still has a long way to go compared to ByteDance and Alibaba, the online advertising sector is rapidly growing, providing a solid foundation for Tencent to secure the necessary funds for technological investments."However, aggressive investments in AI have impacted Tencent's cash flow. The company's net profit rose by only 0.7% to 56.022 billion yuan, while free cash flow turned from a surplus of 43 billion yuan in the same period last year to a deficit of 13.8 billion yuan (approximately $2.9 billion).Despite this, Tencent remains committed to investing in AI infrastructure. Liu emphasized, "Investment in AI infrastructure is not expected to increase steadily each year, so when assessing our spending capacity, we must consider not only free cash flow but also cash on hand, the value of our investment portfolio, operating cash flow, and appropriate borrowing capacity." 2026-08-13 09:52:00
  • HJ Heavy Industries Reports Eightfold Surge in First Half Operating Profit Amid Shipbuilding Boom
    HJ Heavy Industries Reports Eightfold Surge in First Half Operating Profit Amid Shipbuilding Boom HJ Heavy Industries has achieved a significant earnings surprise in the first half of this year, driven by remarkable improvements in its shipbuilding sector and stable orders in construction.On August 12, HJ Heavy Industries announced that it recorded consolidated revenues of 1.2713 trillion won, operating profit of 89.4 billion won, and net profit of 88.1 billion won for the first half of 2026.These figures represent a 38.5% increase in revenue compared to the same period last year (917.8 billion won in revenue, 10.8 billion won in operating profit, and a net loss of 1.1 billion won), with operating profit soaring more than eightfold. The company successfully turned its net profit into a substantial gain, marking a clear turnaround in performance.The shipbuilding sector was the main contributor to this strong performance. The sector saw a significant uptick in the construction of eco-friendly and high-value container ships, alongside stable profitability from defense and special ship projects.In the first half, the shipbuilding division generated 678.6 billion won in revenue, a 75.5% increase from 386.6 billion won in the same period last year, and recorded an operating profit of 81.7 billion won, leading the overall performance surge.Meanwhile, the construction division maintained a stable profit trend despite rising raw material costs, thanks to the smooth progress of public projects and housing and civil engineering works. The construction sector reported revenues of 584.4 billion won and an operating profit of 7.8 billion won in the first half.The company plans to continue focusing on profitability through rigorous process management and risk management, maintaining a selective order intake strategy.An HJ Heavy Industries official stated, "The profitability-focused order strategy, process efficiency improvements, and cost reduction efforts we have consistently pursued over the past few years are now bearing fruit. We aim to sustain growth in the second half through eco-friendly and high-value ship orders in the shipbuilding sector and stable portfolio management in construction, enhancing our long-term competitiveness and shareholder value."Additionally, HJ Heavy Industries is accelerating efforts to secure future growth engines. The company has recently been selected as the lead organization for a joint research and development project with the U.S. in shipbuilding, focusing on AI-based welding technology for vessels, and is also enhancing its capabilities to enter the U.S. ship maintenance, repair, and overhaul (MRO) market. 2026-08-13 09:52:00
  • Exchange Rate Remains Above 1410 Won for Fifth Consecutive Day Amid Dollar Strength
    Exchange Rate Remains Above 1410 Won for Fifth Consecutive Day Amid Dollar Strength The won-dollar exchange rate has remained above 1410 won for the fifth consecutive day.As of 9:37 a.m. on August 13, the exchange rate in the Seoul foreign exchange market was 1411.9 won per U.S. dollar. The rate was trading at 1418.5 won, up 2.8 won from the previous day's closing price as of 6 a.m.The slight increase is attributed to the strength of the dollar due to rising international oil prices and regional demand. The dollar index, which measures the value of the dollar against six major currencies, rose by 0.187% to 100.00.International oil prices increased amid stalled negotiations regarding the resumption of shipping through the Strait of Hormuz and forecasts of declining crude oil demand.September futures for West Texas Intermediate (WTI) crude rose by 0.08% to $83.27 per barrel, while October futures for Brent crude also increased by 0.08% to $88.98 per barrel. The rise was limited by an unexpected increase in U.S. crude oil inventories.Overnight, the New York stock market closed mixed, despite the U.S. Consumer Price Index (CPI) for July meeting expectations.The Dow Jones Industrial Average finished down 21.58 points (-0.04%) at 53,770.27. The S&P 500 index rose by 20.30 points (0.26%) to close at 7,748.50, while the Nasdaq Composite index increased by 143.04 points (0.54%) to finish at 26,588.49.The exchange rate is expected to face upward pressure. Min Kyung-won, an economist at Woori Bank, stated, "Given the persistent bets on interest rate hikes by the Federal Reserve and local demand for purchases, we anticipate a rise centered around the upper 1410 won range."* This article has been translated by AI. 2026-08-13 09:52:00
  • Apple in Talks with Media Outlets to License Content for Siri AI News Feature
    Apple in Talks with Media Outlets to License Content for Siri AI News Feature Apple is in discussions with media outlets to license content for its AI-based voice assistant, Siri AI, in an effort to enhance access to news and information, the Wall Street Journal reported on August 12, citing sources. The company is reportedly considering a budget in the hundreds of millions of dollars and a payment model that compensates media outlets each time their content is used.According to the report, Apple has been negotiating contracts with media companies over the past few months to secure content for the upcoming Siri AI, which is set to launch this fall. The company is pursuing multi-year agreements to utilize the latest news and information.This initiative comes as Siri has faced criticism for lagging behind competing AI services in terms of functionality. Apple unveiled Siri AI at its annual Worldwide Developers Conference (WWDC) in June, announcing significant upgrades. The new Siri AI is designed to understand personal context and screen content, retrieving relevant information from personal messages, emails, and photos. It can also search the web for answers on various topics.If Apple finalizes licensing agreements with media outlets, Siri AI is expected to provide responses based on the latest news and information using their content.Additionally, the Wall Street Journal reported that Apple has proposed a variable compensation model based on the frequency of content usage by partner media outlets, discussing a budget in the nine-digit dollar range for these payments.This approach differs from typical content licensing agreements between AI companies and media outlets, where AI firms usually pay a fixed amount for broad access to content. Apple is considering compensating media outlets based on actual content usage.IT publication 9to5Mac noted that Apple's move comes amid a rise in legal disputes and licensing agreements between AI companies and media outlets over content usage. For instance, The New York Times is currently suing OpenAI and Microsoft for alleged unauthorized use of its content, while major global media groups like News Corp and Axel Springer have entered into licensing agreements with OpenAI.Since 2019, Apple has operated a paid news and magazine subscription service, Apple News+, partnering with outlets like the Wall Street Journal. Although some media companies have since withdrawn from the service, these agreements have reportedly generated significant revenue for certain outlets. 2026-08-13 09:48:10