news highlight

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  SK Siltron joins Doosan in $1.65 billion buyout SEOUL, July 31 (AJP) -South Korea's Doosan Group will acquire a controlling stake in SK Siltron, the world's third-largest silicon wafer manufacturer, in a deal that reshapes the country's semiconductor supply chain while providing SK Group with fresh capital to accelerate its artificial intelligence (AI) push. SK Inc. approved the sale at a board meeting on Friday, agreeing to sell its combined 70.6 percent stake in unlisted SK Siltron for about 2.3 trillion won ($1.6 July 31, 2026
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  Hanwha eyes third Poland K9 deal after $1 bn quarterly profit milestone SEOUL, July 31 (AJP) - South Korea's Hanwha Aerospace remained bullish on the second half after nearly reaching the $1 billion milestone in quarterly operating profit, supported by a record order backlog, mass production under Poland's second K9 execution contract, deliveries to Egypt and Australia, and negotiations for a third K9 deal with Warsaw. The company reported second-quarter operating profit of 1.37 trillion won ($951 million), up 59 percent from a year earlier, on July 31, 2026
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  Unionized workers at Kakao Bank stage first-ever strike amid wage dispute SEOUL, July 31 (AJP) - Unionized workers at KakaoBank launched a strike on Friday, marking the bank's first walkout since its establishment in 2017 as the country's first internet-only bank. More than 700 of KakaoBank's roughly 1,000 unionized workers took part in the strike by taking paid leave and staying off the job. No separate rally was held. The bank's labor union said it is discussing its next steps internally. The strike came after the union had been ne July 31, 2026
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  Coupang ordered to compensate consumers for data leak SEOUL, July 31 (AJP) - South Korea's consumer watchdog on Friday ordered e-commerce giant Coupang to compensate victims of last year's massive data breach, marking the first decision to recognize the company's liability for damages resulting from the leak. The Consumer Dispute Settlement Commission under the Korea Consumer Agency said Coupang should pay 100,000 won (US$70) in compensation to each of the 50 consumers who filed a collective action in December last year July 31, 2026
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  Hanwha Aerospace posts record Q2 operating profit near $1 billion SEOUL, July 31 (AJP) - Hanwha Aerospace said Friday its second-quarter operating profit reached a record 1.37 trillion won ($951 million), nearing the $1 billion mark, driven by steady defense deliveries at home and abroad and strong earnings from Hanwha Ocean and Hanwha Systems. The company posted 9.29 trillion won ($6.5 billion) in consolidated sales for the April-June period, up 47 percent from a year earlier. Operating profit rose 59 percent on-year to 1.37 trillion won. By b July 31, 2026
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  AI chip boom begins to warm South Korea's broader domestic front SEOUL, July 31 (AJP) - Red-hot chip demand, which earned South Korea's two chipmakers 150 trillion won ($108 billion) in combined second-quarter operating profit — equivalent to about 6 percent of the country's entire 2025 nominal GDP — is beginning to warm the broader domestic front, with the AI boom spilling from exports into factories, construction sites and household spending. The latest government data suggest the country's semiconductor-driven expans July 31, 2026
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  Delta to operate temporary Incheon-Las Vegas flights for CES 2027 SEOUL, July 31 (AJP) - Delta Air Lines will operate temporary nonstop flights between Incheon and Las Vegas for Korean travelers attending CES 2027, the company said Friday. The special flights will depart from Incheon International Airport from Jan. 3 to 5 and arrive at Harry Reid International Airport in Las Vegas ahead of CES 2027, which will be held from Jan. 6 to 9. Return flights from Las Vegas to Incheon will operate from Jan. 9 to 10. The Incheon-Las Vegas service will be July 31, 2026
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  South Korean military nearly shot down U.S. drone near border SEOUL, July 31 (AJP) - South Korean forces nearly shot down a U.S. Marine Corps drone flying near the inter-Korean border after front-line units failed to identify it as part of an allied exercise, military sources said Friday. The incident occurred Thursday afternoon in the northern border city of Paju, Gyeonggi Province, where U.S. Marines were conducting training as part of KMEP, a combined exercise between the South Korean and U.S. Marine Corps. As part of the drill, the U.S. July 31, 2026
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  LG CNS Q2 profit falls despite higher revenue on cost pressure SEOUL, July 31 (AJP) - LG CNS posted a 9.2 percent drop in second-quarter operating profit, as rising costs outweighed steady sales growth at the South Korean IT services provider. According to a preliminary regulatory filing released Friday, operating profit fell to 127.9 billion won ($89.1 million) in the April to June quarter from 140.8 billion won a year earlier, even as revenue climbed 4.2 percent to 1.52 trillion won. Net income rose 19.9 percent to 118.7 billion won. Th July 31, 2026