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  Lotte Wellfood Q1 operating profit more than doubles on overseas growth SEOUL, May 08 (AJP) - South Korean confectionery maker Lotte Wellfood announced that its first-quarter operating profit more than doubled from a year earlier, lifted by brisk sales in India and Kazakhstan that helped offset sluggish domestic demand. According to regulatory filings released Friday, operating profit jumped 118.4 percent to 35.8 billion won ($24.3 million) on a consolidated basis. Revenue rose 5.4 percent to 1.03 trillion won, while net profit slipped 26.6 percent to 1 May 8, 2026
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  South Korea loses ground in ship orders as China sweeps up new contracts SEOUL, May 8 (AJP) - South Korea's share of global ship orders fell sharply in April despite a rebound in global ship orders, as China swept up a far larger portion of new contracts, according to data released by London-based Clarkson Research Services on Friday. Global ship orders for the month totaled 6.49 million compensated gross tons (CGT) or 204 vessels, up 21 percent from a year earlier. South Korea secured just 16 percent of global orders or 1.05 million CGT acros May 8, 2026
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  Hanwha Group moves to bring aerospace under its defense arm SEOUL, May 07 (AJP) - Defense-heavy Hanwha Group has climbed to No. 5 in South Korea’s latest conglomerate rankings by the Fair Trade Commission, and it appears to be aiming to go literally higher by bringing aircraft and rocket manufacturing business back into the family. The group has recently secured more than a 5 percent stake in Korea Aerospace Industries, the country's aircraft-making monopoly, for the stated purpose of “management participation,” signa May 7, 2026
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  KF-21 cleared for combat, opening era of Korean-made fighter jets SEOUL, May 07 (AJP) - South Korea’s homegrown KF-21 fighter jet has received final combat suitability approval, clearing the last major hurdle in its development 10 years and five months after the project began. The Defense Acquisition Program Administration (DAPA) said Thursday that the KF-21 was declared suitable for combat use, meaning the aircraft has met the Air Force’s required operational capability and secured the technical reliability needed to carry out mission May 7, 2026
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  The higher Samsung Elec goes, the deeper internal collision over rewards SEOUL, May 07 (AJP) - Samsung Electronics has much to celebrate — joining the rare ranks of companies generating more than $40 billion in quarterly profit and surpassing a $1 trillion market capitalization. Yet beneath the triumph, the company faces growing internal strains that mirror the strengths and vulnerabilities of the broader Korean economy, heavily hanging on the semiconductor boom. The founding principle of “One Samsung” is showing visible cracks as May 7, 2026
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  Tesla extends lead over BMW to top imported car market for third consecutive month SEOUL, May 7 (AJP) - American electric vehicle maker Tesla continued its dominance in South Korea's imported car market in April, selling more than 10,000 vehicles to retain the top spot for a third consecutive month after overtaking Germany's BMW for the first time in February. According to the Korea Automobile Importers & Distributors Association (KAIDA), Tesla led with 13,190 registrations, followed by BMW with 6,658 and Mercedes-Benz with 4,796. China's BYD ranke May 7, 2026
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  ​​​​​​​HOT STOCK: Hyosung Heavy takes breather after 50% near-nonstop rally SEOUL, May 07 (AJP) - Hyosung Heavy Industries, a Seoul-based transformer and switchgear maker, has emerged as one of the KOSPI’s standout AI infrastructure plays outside chip behemoths, with its shares soaring more than eightfold from a year earlier. The stock rose as high as 4,742,000 won ($3,267) on Thursday before easing to 4,558,000 won as of 2 p.m. Hyosung Heavy has gained nearly 50 percent in just two weeks from 2,990,000 won on April 16, and more than eightfold from 5 May 7, 2026
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  Korea weighs Louisiana LNG project for $200 bln US investment package SEOUL, May 07 (AJP) - South Korea has begun reviewing a liquefied natural gas export terminal project in Louisiana as a potential first project under its $200 billion strategic investment package with the U.S., officials and industry sources said Thursday. The Ministry of Trade, Industry and Energy recently selected a consortium of Samil PwC and Kim & Chang to advise on the Louisiana LNG project, part of the Korea-U.S. strategic investment package agreed last year. Industry w May 7, 2026
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  Kakao posts record first-quarter earnings as AI fuels Korea's platform giants SEOUL, May 07 (AJP) - South Korea's platform giants are converting an artificial intelligence investment cycle into top-line momentum, with Kakao joining rival Naver in delivering AI-revved first-quarter earnings. According to regulatory filings on Thursday, Kakao's consolidated operating profit jumped around 65.9 percent from a year earlier to 211.4 billion won ($145.7 million) on an adjusted basis, while revenue climbed 11.1 percent to 1.94 trillion won — both first May 7, 2026
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  Apple weighs Samsung for chip supply as Samsung joins $1 trillion club SEOUL, May 06 (AJP) - Apple Inc. is reportedly exploring partnerships with Samsung Electronics and Intel to reduce its heavy reliance on Taiwan Semiconductor Manufacturing Co. (TSMC) for processor production, a shift that coincides with Samsung securing a new 4-nanometer artificial intelligence (AI) chip order from a U.S. firm. According to a recent report by Bloomberg, Apple is in early-stage discussions with Samsung and Intel to manufacture its core processors. The move is widel May 6, 2026