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SM Group Appoints Min Sang-ki as New CEO of Korea Shipping Corporation SM Group's shipping subsidiary, Korea Shipping Corporation, has appointed Min Sang-ki, former president of Konkuk University, as its new CEO.According to SM Group, Korea Shipping Corporation held an extraordinary general meeting and board meeting on July 6 in Mapo-gu, Seoul, where they approved Min's appointment as CEO.Min Sang-ki, born in 1955 in Yangpyeong, Gyeonggi Province, earned his bachelor's, master's, and doctoral degrees in food engineering from the University of Hohenheim in Stuttgart, Germany. He was appointed as a professor at Konkuk University in 1995 and served as the university's president from September 2016 to August 2020 after holding various positions, including dean of the graduate school and vice president for academic affairs.During his presidency, he was recognized for enhancing industry-academia cooperation and establishing a talent development system in preparation for the Fourth Industrial Revolution.Korea Shipping Corporation expects that Min's leadership, as an expert in organizational management and talent development, will significantly contribute to enhancing the company's value as a national shipping line and establishing sustainable growth and ESG (Environmental, Social, and Governance) management.In his inaugural speech, Min stated, "I will prioritize continuous innovation for growth and the discovery of future opportunities, solidifying our foundation while actively targeting high-value markets. I aim to elevate Korea Shipping Corporation into a global shipping company that offers the highest value and vision."Founded in 1968, Korea Shipping Corporation is a mid-sized shipping company within SM Group, providing global maritime transport services based on a diverse fleet, including bulk carriers, LNG carriers, and tankers.* This article has been translated by AI. 2026-07-07 08:36:00 -
Sensory Experiences Highlighted in Sejong's Local Tourism Contest A competition has been launched to discover unique experiential travel products that utilize Sejong City's unique resources, aimed at enhancing the region's tourism competitiveness. The Sejong Cultural and Tourism Foundation announced that it is accepting participants for the '2026 Western Inland Local Specialized Experiential Tourism Content Contest' until July 19.The theme of the contest is 'Sensory Sejong,' which emphasizes satisfying the five senses. The initiative aims to move away from traditional sightseeing and focus on participatory content that allows travelers to experience and enjoy the local culture directly.The competition is divided into six categories to reflect the diverse preferences of travelers: 1) Culinary tours using local ingredients (taste), 2) Tours of natural landscapes and unique spaces (sight), 3) Walking courses and activities (movement), 4) Traditional and handmade craft experience education (creation), 5) Wellness-based relaxation stays (rest), and 6) Other free proposals.Individuals, groups, or local creators who have or operate experiential content utilizing Sejong City's resources are eligible to apply. Applications can be submitted until 11 p.m. on July 19 via email after downloading the application form from the foundation's website.The foundation will provide practical commercialization benefits to the content selected through external expert evaluations. This includes opportunities to enter major domestic online travel agency (OTA) platforms, expert consulting to enhance product viability, and promotional photography support. Programs to develop sales channels, such as influencer-led promotional trips (fam tours), will also be conducted.Notably, a total prize of 20 million won will be awarded to the best content selected based on future sales performance and user reviews. Additional benefits include an extended waiver period for OTA platform fees and the publication of planned articles.An information session for the contest will be held on July 9 at 7 p.m. at the foundation's office, where details about the project direction and evaluation criteria will be provided.Kim Ji-hoon, head of the tourism business team at the Sejong Cultural and Tourism Foundation, stated, 'This contest is a project that organically supports the entire process from idea development to commercialization, sales, and promotion. We hope to see many capable businesses participate to invigorate the local tourism ecosystem.'* This article has been translated by AI. 2026-07-07 08:28:00
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U.S. Stock Market Rise Boosts Bitcoin to $64,000 Bitcoin investment sentiment improved as the U.S. stock market rose. According to CoinMarketCap, Bitcoin was trading at $64,278, up 0.83% from the previous day as of 8 a.m. The rise is attributed to a rebound in the U.S. stock market. On July 6, the Dow Jones Industrial Average closed at 53,055.91, up 155.84 points (0.29%), marking a record high. Additionally, inflows into U.S. Bitcoin spot exchange-traded funds (ETFs) contributed to the increase in Bitcoin prices. According to CoinDesk, $221.7 million (approximately 338.9 billion won) flowed into U.S. listed Bitcoin spot ETFs, the largest amount in the past two months. AI semiconductor stocks, which had seen profit-taking, also rebounded. Major altcoins also saw gains. Ethereum rose 0.83% to $1,808. Solana increased by 0.80% to $82, while Tether was up 0.01% at $0.99. Meanwhile, at the same time, Bitcoin was trading at approximately 96.56 million won ($63,087) on the domestic exchange Bithumb, reflecting a 3.33% increase from the previous day. The so-called 'Kimchi premium' showed a negative value of -1.95%, indicating that domestic prices were lower than international prices.* This article has been translated by AI. 2026-07-07 08:24:00
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Daishin Securities: SK Hynix Set for ADR Listing, Target Price Raised Daishin Securities reported that SK Hynix is nearing its American Depositary Receipt (ADR) listing, which is expected to quickly close the valuation gap with global competitors. As a result, the firm raised its target price from 2,343,000 won to 3,900,000 won while maintaining a 'buy' rating.The SK Hynix ADR is set to be listed on the Nasdaq on July 10. Analyst Ryu Hyung-geun stated, "This will provide an opportunity for the company to be valued on par with its competitors. Given its competitive advantages in business and scale, the valuation discount it has faced will be resolved."Consequently, Daishin Securities has increased its operating profit forecasts for SK Hynix to 291 trillion won for 2026 and 432 trillion won for 2027. Ryu noted, "As the supply shortage of memory semiconductors intensifies, the price increase in the second half of the year is expected to exceed market expectations. By 2027, we anticipate a resurgence in the average selling price (ASP) of DRAM, driven by HBM, similar to the trends observed from 2023 to 2025."He explained that this is particularly favorable for SK Hynix, which has a high exposure to high-bandwidth memory (HBM). Ryu added, "Sales recognition for high-priced follow-up contracts for HBM3E will begin in earnest, and HBM4 sales will ramp up starting in the third quarter. In the fourth quarter, initial production from the new factory will be reflected, allowing for a flexible response to strong server demand."Ryu also highlighted the potential for increased shareholder returns. He stated, "Considering the cash inflow from the partial sale of Kioxia shares, the ADR issuance, and the memory supercycle, achieving a net cash of 100 trillion won is just a matter of time. Cash inflows starting in the third quarter can be utilized for shareholder returns."He further noted, "Before expanding the ADR proportion, share buybacks and retirements will be conducted to prevent dilution of equity value."* This article has been translated by AI. 2026-07-07 08:16:00
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Trump Suggests Xi Jinping May Visit U.S. Around September 24 President Donald Trump indicated the possibility of a meeting with Chinese President Xi Jinping in the U.S. around the end of September.On July 6, during an event, Trump mentioned Xi's potential visit while discussing the need for a new banquet hall at the White House."For example, I think President Xi will be here around September 24," Trump said. "What we need is a large banquet hall. Thousands of people should be able to come in to see him. Everyone wants to see him."This is the first time Trump has specified a date for Xi's potential visit, although he previously suggested inviting Xi to the U.S. in September.If Xi's visit materializes, it would coincide with the high-level session of the United Nations General Assembly in New York. However, there are speculations about the likelihood of Xi attending, as he has only participated in the UN General Assembly once since taking office in 2012.Trump and Xi held a summit in Beijing in May, where they discussed ways to ease tensions and improve relations following the Iran conflict. Both leaders acknowledged the need for increased cooperation between the world's two largest economies and made some progress in trade discussions.However, uncertainties remain in U.S.-China relations, with key points of contention including differing positions on Middle Eastern issues, Taiwan, and Trump's push for tariff barriers.Bloomberg noted that while both countries are showing signs of strengthening their relationship, significant geopolitical challenges persist.* This article has been translated by AI. 2026-07-07 08:16:00
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JoyWorks & Co. Shares Plummet 61% Amid Controversy, While Hoka Shoes Thrive ◆Aju Economic Major News▷- U.S. stocks rose, buoyed by Foxconn's surprise second-quarter results and expectations for AI server demand, with the Philadelphia Semiconductor Index climbing 2.2%, marking a resurgence in the semiconductor rally.- Positive developments for big tech include the extension of custom chip supply contracts between Broadcom and Apple, as well as Micron's long-term memory supply agreement with Ford, improving sentiment for AI semiconductor investments.- Following three consecutive weeks of significant reductions in hedge fund positions in tech stocks, the easing of position burdens has led to an influx of bargain buying, supporting the rise in tech stocks.- Global investment institutions expect the AI investment cycle to continue, with sustained capital expenditures from major cloud companies and performance confirmations being key variables for further gains in the second half of the year.- The U.S. ISM Services PMI for June indicates continued expansion while showing signs of easing price pressures, reducing concerns about further tightening from the Federal Reserve, which has also raised the need for improved communication of its policies.◆Major Disclosures After Market Close (July 6)▷SK Hynix revises total ADR issuance from 45 trillion to 43 trillion won▷Naver Financial and Dunamu stock exchange postponed again... scheduled for December 31▷PS Electronics decides to enter into a trust contract for the acquisition of 5 billion won in treasury stock▷Samji Electronics enters into a trust contract for the acquisition of 15 billion won in treasury stock▷Orion Group conducts its first quarterly dividend in company history... totaling 100 billion won▷Vinatek signs a supply contract for supercapacitors for data centers worth 13.1 billion won◆Fund Trends (as of July 3, excluding ETFs)▷Domestic equity: +185.3 billion won▷Overseas equity: +33.6 billion won◆Key Schedule for Today (July 7)▷Japan: Household Spending (May)▷Germany: Industrial Production (May)▷U.S.: Import and Export Trends (May), New York Fed Consumer Expectations Survey (June)* This article has been translated by AI. 2026-07-07 08:08:00
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Hanwha Investment & Securities Raises Samsung SDS Target Price Amid Strong Q2 Outlook Hanwha Investment & Securities projected that Samsung SDS will exceed market expectations for its second-quarter performance, driven by strong growth in its cloud and logistics businesses. The firm maintained a 'buy' rating and raised its target price from 210,000 won to 250,000 won.Analyst Kim So-hye of Hanwha Investment & Securities estimated Samsung SDS's consolidated revenue for the second quarter at 3.697 trillion won, with an operating profit of 246.7 billion won. These figures represent increases of 6% and 9%, respectively, over market consensus.Kim noted, "The revenue growth in the cloud and logistics sectors appears to be better than previously anticipated," adding that IT service revenue is expected to rise by 6.2% year-on-year, marking the highest growth rate in the past two years. She further explained that delayed projects have resumed and the expansion of the Managed Service Provider (MSP) business has accelerated, leading to an estimated 15.5% year-on-year growth in cloud revenue.Looking ahead, Kim expects the positive trend in performance to continue in the second half of the year, particularly with the cloud business's revenue growth projected to recover to around 20%, driven by the MSP and Cloud Service Provider (CSP) sectors.The analyst highlighted that during a recent Analyst Day, the company set a goal to secure over 800 MW of Automatic Identification and Data Capture (AIDC) infrastructure by 2031, aiming for related revenue of 6.6 trillion won. She assessed this plan as highly feasible, considering the company's financial capacity and demand from group companies. She added that revenue from the Dongtan West data center will begin to be reflected this year, with contributions expected from the Korean AICC (40 MW) and Gumi AIDC (60 MW) in succession.Kim stated, "This year is expected to be a period of momentum for capital utilization strategies," and predicted that if visible results are confirmed throughout the year, the current valuation discount factors are likely to be resolved.* This article has been translated by AI. 2026-07-07 08:08:00
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HD Hyundai Heavy Industries Expresses Disappointment Over Canadian Submarine Bid HD Hyundai Heavy Industries expressed disappointment after losing the bid for Canada's Next-Generation Submarine Project (CPSP).In a statement on July 7, the company said, "It is regrettable that we could not achieve a successful outcome, but we are confident that the experience of working as a united team for this bid will serve as a strong foundation for the advancement of K-defense."They added, "We will do our utmost to leverage this experience to achieve success in future K-defense exports and enhance national interests."Finally, HD Hyundai Heavy Industries extended its gratitude to the government, related agencies, and the public for their support throughout the bidding process.* This article has been translated by AI. 2026-07-07 08:08:00
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Samsung Electronics Reports Record Q2 Operating Profit of 89.4 Trillion Won Samsung Electronics reported a preliminary consolidated revenue of 171 trillion won and an operating profit of 89.4 trillion won for the second quarter of this year.The company disclosed its preliminary results on July 7. Compared to the previous quarter, revenue increased by 27.74%, while operating profit rose by 56.21%. Year-over-year, revenue surged by 129.31%, and operating profit skyrocketed by 1,810.26%.Notably, the operating profit surpassed the $53.5 billion (approximately 81.86 trillion won) achieved by its client, U.S. company NVIDIA, in the first quarter of the 2027 fiscal year (February to April 2026), marking the largest quarterly operating profit among global private companies.Market analysts attribute this strong performance to improvements in the memory market, particularly high-bandwidth memory (HBM), and the sales impact of new smartphone products.The results are based on preliminary figures prepared in accordance with the Korean International Financial Reporting Standards (K-IFRS). Detailed performance by division has not been disclosed, and final results are expected to be announced at the end of this month.Since 2009, Samsung Electronics has been the first domestic company to disclose quarterly preliminary results, providing investors with early insights into its financial performance and supporting assessments of corporate value.During the earnings conference call, Samsung will address pre-submitted questions from investors, focusing on key issues such as semiconductor business performance, the outlook for the AI semiconductor market in the second half, and strategies for its foundry business.* This article has been translated by AI. 2026-07-07 08:00:00
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Samsung Elec Q2 profit nears 90 trillion won even after bonus package SEOUL, July 07 (AJP) - Samsung Electronics on Tuesday estimated second-quarter operating profit at 89.4 trillion won ($58.4 billion) beating consensus of around 84.60 trillion won, as hot chip selling prices more than offset the cost of record performance bonuses for semiconductor employees. The preliminary figure compares with operating profit of 57.2 trillion won in the previous quarter and 4.7 trillion won a year earlier and fueled a red-hot earning streak for the third quarter. It also suggests income could have nearly doubled from the January-March period when excluding bonus outlay. Second-quarter revenue came to 171 trillion won, slightly short of the FnGuide consensus of 172.68 trillion won, but much higher than 133.9 trillion won in the previous quarter and 74.6 trillion won a year earlier, The world's top DRAM maker's second-quarter earnings were highly anticipated, given the red-hot demand for memory chips powering AI, which also spilled over into mass-market memory due to supply constraints. Citi Research estimated that average selling prices for DRAM and NAND rose 44 percent and 53 percent, respectively, from the first quarter. The latecomer in the high-bandwidth memory race was also expected to benefit from long-term strategic supply contracts with major technology companies seeking to lock in memory supplies. Industry sources also said provisions for employee performance bonuses were at least partially reflected in the quarter, while stronger seasonal demand for air conditioners and other premium home appliances during an early summer heatwave likely supported the consumer electronics business. Samsung will release detailed earnings, including business division results, later this month. 2026-07-07 07:53:26