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SK Telecom Shares Rise Following Property Division Ruling for Chairman Chey Tae-won SK Telecom shares experienced a boost on July 24 after a court ruling ordered Chairman Chey Tae-won to pay 944 billion won in property division as part of his divorce proceedings.On that day, SK Telecom closed at 101,300 won, up 1,800 won (1.81%) from the previous session. Following the ruling around 2 p.m., the stock surged as much as 5.33%, reaching 104,800 won.The Seoul High Court's Family Division, led by Judge Lee Sang-joo, ruled that Chey must pay his ex-wife, No So-young, the substantial property division amount. The court also mandated that Chey pay a 5% annual interest on the amount from the day the ruling is finalized until it is fully paid.Analysts suggest that the need for Chey to secure cash for the property division could lead to increased dividends from strong affiliates, which may have driven the buying interest in SK Telecom shares.Market experts are discussing various options for raising funds, including stock-backed loans, selling unlisted assets, and increasing dividends from affiliates. Notably, Hana Financial Investment recently stated in a report that expanding dividends from strong subsidiaries is essentially the only solution to address governance issues without selling off shares in the holding company, positioning SK Telecom as a top pick.Chey currently holds 12,975,472 shares (17.90% stake) in SK Inc. However, analysts believe that the potential for a large-scale sale of SK Inc. shares is limited due to their critical role in the group's governance structure.Meanwhile, SK Inc. shares closed down 3.66% on the same day, while SK Hynix saw a significant drop of 8.34%.* This article has been translated by AI. 2026-07-24 16:44:00 -
Samsung Bioepis Reports Second Quarter Operating Profit of 86.6 Billion Won Samsung Bioepis reported a decline in both revenue and operating profit for the second quarter of this year compared to the same period last year. However, the company continues to show growth in its first-half results.Samsung Epise Holdings announced on July 24 that Samsung Bioepis recorded revenue of 392.2 billion won and an operating profit of 86.6 billion won in the second quarter. These figures represent decreases of 2.2% and 3.6%, respectively, from the previous year, attributed to changes in the supply schedule of key products and increased investment in research and development (R&D). During the same period, net profit rose by 72.1% to 106.7 billion won.For the first half of the year, the company reported revenue of 847.1 billion won and an operating profit of 230.6 billion won, both reflecting a 6% increase compared to the same period last year.Samsung Bioepis stated, "The increasing demand for products in major markets such as Europe and the United States is expected to be reflected in our performance in the second half of the year. We anticipate continuing our business success in the global market this year."The company is intensifying its efforts to penetrate global markets. In May, it launched the Eylea biosimilar in Europe, expanding its direct sales products in the region to five. In the United States, it has begun selling the Prolia biosimilar, and in Japan, it has entered the market with its first product, the Stelara biosimilar.Samsung Bioepis is also enhancing the competitiveness of its pipeline. Last month, it released global Phase 1 and Phase 3 clinical trial results for its immuno-oncology biosimilar candidate, SB27, demonstrating equivalence to the original drug in primary endpoints such as pharmacokinetics and efficacy.Additionally, Samsung Bioepis is the first company among those developing a Keytruda biosimilar to announce global Phase 3 clinical trial results.The company is accelerating its new drug development efforts. The antibody-drug conjugate (ADC) candidate SBE303 entered global Phase 1 clinical trials in March, while the follow-up candidate SBE313 is currently in preclinical development.Samsung Bioepis is also pursuing long-acting obesity treatments and open innovation-based new drug development to secure mid- to long-term growth drivers.Meanwhile, Samsung Epise Holdings has maintained its forecast that Samsung Bioepis's annual revenue growth rate will exceed 10% compared to last year's figure of 1.67 trillion won, despite uncertainties in the global market.* This article has been translated by AI. 2026-07-24 16:44:00
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NH Nonghyup Financial Reports Record Half-Year Profit of 1.78 Trillion Won NH Nonghyup Financial Group achieved a record half-year net income of 1.78 trillion won, surpassing 1.7 trillion won for the first time this year.Growth in interest income and an increase in non-interest income due to a strong stock market drove the results, with NH Investment & Securities leading the way with more than double its profit growth.According to Yonhap News and NH Nonghyup Financial, the group's net income for the first half of the year was 1.7791 trillion won, a 9.2% increase compared to the same period last year. However, net income for the second quarter was 910.4 billion won, a slight decrease from the previous year.The improvement in performance was attributed to simultaneous growth in both interest and non-interest income. Interest income for the first half reached 4.4422 trillion won, an 8.4% increase from the previous year. This growth was influenced by an expansion in core deposits, the growth of high-quality assets centered on corporate finance, and an improvement in the net interest margin (NIM) in the banking and card sectors, which rose from 1.67% at the end of last year to 1.74% by the end of June this year.The strong stock market also supported the results. Non-interest income for the first half was 1.9599 trillion won, a 47.4% increase from last year, with commission income rising 71.2% to 1.6814 trillion won, driven by increased demand for stock trading and asset management.By subsidiary, NH Investment & Securities showed remarkable growth, reporting a net income of 965.2 billion won, a 107.5% increase from the previous year. In contrast, NH Nonghyup Bank saw its net income decrease by 2.1% to 1.1629 trillion won due to rising corporate tax rates and increased education taxes. The insurance subsidiaries also struggled, with NH Nonghyup Life Insurance reporting a net income of 35.1 billion won, down 77.3%, and NH Nonghyup Property & Casualty Insurance reporting 71.7 billion won, down 18.1%.Overall, the group's soundness indicators remained stable. The non-performing loan (NPL) ratio was 0.65%, a slight increase from last year, while the common equity tier 1 capital ratio improved by 0.59 percentage points to 12.97%.NH Nonghyup Financial plans to invest a total of 1 trillion won into its key subsidiaries, including 500 billion won for the bank, 400 billion won for securities, and 100 billion won for capital, based on a 1.2 trillion won capital increase from the National Agricultural Cooperative Federation this year. The company aims to enhance its business competitiveness and strengthen its foundation for future growth.An NH Nonghyup Financial official stated, "Despite the capital dilution effect from the capital increase, we achieved the largest half-year performance in history. We expect the effects of the capital increase to become more pronounced in the second half, accelerating profitability improvements."* This article has been translated by AI. 2026-07-24 16:40:00
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Heat can't dim palace charm SEOUL, July 24 (AJP) - Foreign tourists watch the royal guard changing ceremony at Gyeongbok Palace in Seoul despite the sweltering heat. 2026-07-24 16:39:17 -
Heat can't dim palace charm SEOUL, July 24 (AJP) - Foreign tourists watch the royal guard changing ceremony at Gyeongbok Palace in Seoul despite the sweltering heat. 2026-07-24 16:38:09 -
Heat can't dim palace charm SEOUL, July 24 (AJP) - Foreign tourists watch the royal guard changing ceremony at Gyeongbok Palace in Seoul despite the sweltering heat. 2026-07-24 16:37:06 -
Kia Confident in Annual Profit Target Amid Hybrid Expansion and EV Incentive Strategy Kia has expressed confidence in maintaining its annual performance targets despite external uncertainties such as U.S. auto tariffs and rising raw material costs. The company plans to enhance profitability through increased hybrid vehicle sales while opting not to expand electric vehicle (EV) incentives in Europe.Kim Seung-jun, Executive Vice President of Kia's Finance Division, stated during a conference call on July 24 following the second quarter earnings report, "We believe we can achieve our targets of 3.35 million wholesale sales, 3.31 million retail sales, and an operating profit of 10.2 trillion won set during our Investor Day earlier this year," adding, "We expect about 10% growth in the second half compared to last year." Kia reported a record consolidated revenue of 33.037 trillion won for the second quarter, achieving both the highest revenue and the most sales in a single quarter. During this period, global wholesale sales reached 851,639 units, while retail sales totaled 839,000, marking increases of 4.5% and 5.8%, respectively, compared to the same period last year.Kim noted, "While global automotive demand has decreased by 3.8% year-on-year, Kia's global sales have grown by about 6%, and our market share in the first half reached a record high of 4%. Sales are increasing evenly across most regions, not just in specific areas." The EV sales incentives previously expanded in the European market were described as a strategic choice to secure market share. Kia increased incentives for its mid-range EV models, including EV2, EV3, EV4, and EV5, with average incentives exceeding 1,000 euros in Europe and about $400 per vehicle in the U.S.Kim emphasized, "It was important to secure market share even if it meant sacrificing some profitability in EVs to compete with Chinese manufacturers. There were expectations for further incentive expansions in the second half, but that will not be the case." Regarding concerns over declining profitability due to increased EV sales, he expressed confidence that the growth in hybrid sales would sufficiently offset this. In the second quarter, the share of domestic EV sales reached 24.5%, while in Europe, it rose to 35%, but hybrid sales are also increasing rapidly.Kim stated, "Hybrids have about 1.5 times the profitability of internal combustion engines. Even as EV sales increase, the share of hybrids is also expanding, allowing us to maintain overall profitability." Kia plans to increase production of the Telluride hybrid at its Georgia plant and to begin mass production of the Sportage hybrid at the Hyundai Motor Group Metaplant America (HMGMA) to boost sales. The company also anticipates that the impact of rising raw material prices, identified as a performance burden, will ease starting in May.The future mobility business will proceed as scheduled. Kia confirmed that there will be no changes to the timelines for developing software-defined vehicles (SDVs) and autonomous driving technology. The company plans to unveil a concept vehicle next year, with the launch of SDVs expected in early 2028 and the completion of Level 2++ autonomous driving technology by the end of that year.Additionally, Kim mentioned the data center planned for construction in Saemangeum, North Jeolla Province, stating, "It will be a key asset for collecting and training data for autonomous driving and robotics. It will be operated as a joint asset of the group, not just Kia." 2026-07-24 16:36:00
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Ruling Party Approves Bill to Abolish Prosecutors' Supplementary Investigation Rights The Democratic Party approved a bill on July 24 to completely abolish prosecutors' supplementary investigation rights. The decision was made without any objections during a party meeting. The bill also includes provisions to expand protection measures for victims and enhance mutual checks among investigative agencies.Lee Joo-hee, the party's floor spokesperson, announced the decision during a policy meeting at the National Assembly. She stated, "The party agreed to reach a conclusion quickly, and 106 out of 161 lawmakers participated, meeting the quorum for the vote." Despite internal disagreements, the party confirmed its stance to fully abolish supplementary investigation rights, believing that further delays in legislative reform for prosecutorial reform were unacceptable. However, some voices have raised concerns about potential gaps in investigations and the need for stronger victim protection measures.In response, Han Byeong-do, the party's acting leader and floor leader, emphasized during the morning's Supreme Council meeting that the ruling party would make responsible decisions, stating, "As the ruling party, we will shoulder the weight of governance together and aim to finalize the legislation swiftly." The proposed bill seeks to eliminate the supplementary investigation rights of prosecutors, detail the expansion of protection measures for victims, and strengthen mutual oversight among investigative agencies. Additionally, the party plans to expedite amendments to the Serious Crimes Investigation Agency Act to establish dedicated departments for crimes against vulnerable groups, allowing for supplementary investigations.With the Democratic Party accelerating the process following the party's endorsement, the bill is expected to be reviewed by the judiciary committee next week and could be processed in a plenary session as early as July 30. 2026-07-24 16:36:00
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Heat can't dim palace charm SEOUL, July 24 (AJP) - Foreign tourists watch the royal guard changing ceremony at Gyeongbok Palace in Seoul despite the sweltering heat. 2026-07-24 16:35:57 -
Heat can't dim palace charm SEOUL, July 24 (AJP) - Foreign tourists watch the royal guard changing ceremony at Gyeongbok Palace in Seoul despite the sweltering heat. 2026-07-24 16:34:57