Industry

  • Foreign home purchases in Seoul halve after Korea tightens property rules
    Foreign home purchases in Seoul halve after Korea tightens property rules SEOUL, February 12 (AJP) - Foreign purchases of homes in Seoul fell by more than half after the government designated the capital and key parts of the greater metropolitan area as land-transaction permit zones for foreign buyers. The Ministry of Land, Infrastructure and Transport said Thursday its review of apartment and other home transactions from September to December last year showed sales by foreign buyers declined across designated areas compared with a year earlier. February 12, 2026
  • NPS posts early leasing success in first overseas office development
    NPS posts early leasing success in first overseas office development SEOUL, February 12 (AJP) - South Korea’s National Pension Service (NPS) said on Thursday it has secured full occupancy ahead of completion in its first overseas office development investment. The NPS said two office towers at Toronto’s CIBC Square complex reached 100 percent leasing about four months before completion, with major tenants including Canadian lender CIBC and technology giant Microsoft. The pension fund invested in the project in two rounds in 2016 an February 12, 2026
  • CJ CheilJedang apologizes over alleged sugar price-fixing, quits industry body
    CJ CheilJedang apologizes over alleged sugar price-fixing, quits industry body SEOUL, February 12 (AJP) - South Korea's largest sugar maker CJ CheilJedang has issued a formal apology, saying it will immediately quit the Korea Sugar Association following the Fair Trade Commission’s imposition of a combined 408.3 billion won in fines on three sugar makers for alleged price-fixing. In a statement on Thursday, the company said it "deeply apologizes for causing concern to customers and consumers” and pledged swift corrective measures, acknowl February 12, 2026
  • NHN returns to annual profit as Q4 earnings hit record high
    NHN returns to annual profit as Q4 earnings hit record high SEOUL, February 12 (AJP) - South Korea’s NHN Corp. reported record quarterly revenue and operating profit in the fourth quarter, supported by broad-based growth across its core businesses and improved profitability. In a regulatory filing Thursday, NHN said consolidated revenue for the October–December period rose 6.5 percent from a year earlier to a record 685.7 billion won ($480 million), while operating profit surged 120.5 percent to 55.1 billion won, also the hig February 12, 2026
  • Kakaos profit jumps 48 percent in record year, plans AI push in 2026
    Kakao's profit jumps 48 percent in record year, plans AI push in 2026 SEOUL, February 12 (AJP) - South Korea’s Kakao Corp. said Thursday its annual revenue exceeded 8 trillion won for the first time last year, with operating profit surging on stronger platform performance and improved cost efficiency. In a regulatory filing, the company said consolidated revenue for 2025 rose 3 percent from a year earlier to a record 8.1 trillion won, while operating profit jumped 48 percent to an all-time high of 732 billion won. Fourth-quarter revenue February 12, 2026
  • VWs electrification push adds pressure on South Korea in Canadas $41bn submarine bid
    VW's electrification push adds pressure on South Korea in Canada's $41bn submarine bid SEOUL, February 11 (AJP) - Germany’s industrial offensive is widening beyond defense and into electric vehicles, adding fresh pressure on South Korea in Canada’s $41 billion submarine procurement race. On Wednesday, Volkswagen Group doubled down on its global electrification drive despite slowing EV demand worldwide, highlighting production milestones that underscore Germany’s manufacturing scale — a key factor as Berlin backs a consortium competing against S February 11, 2026
  • South Koreas HMM posts sharp earnings drop on falling freight rates
    South Korea's HMM posts sharp earnings drop on falling freight rates SEOUL, February 11 (AJP) - HMM, South Korea’s largest shipping firm, reported a sharp decline in operating profit for 2025, falling nearly 60 percent from a year earlier as weaker freight rates and excess vessel supply weighed on its earnings. In a regulatory filing Wednesday, the company reported consolidated operating profit of 1.46 trillion won ($1.1 billion), down 58.4 percent from the previous year. Revenue declined 6.9 percent to 10.89 trillion won, while net profit February 11, 2026
  • E-Mart posts sharp profit rebound in 2025 on cost cuts, pricing power
    E-Mart posts sharp profit rebound in 2025 on cost cuts, pricing power SEOUL, February 11 (AJP) - South Korea’s largest retailer E-Mart reported a sharp improvement in profitability last year despite inflationary pressures and sluggish consumer spending. In a regulatory filing Wednesday, the company said consolidated revenue for 2025 slipped 0.2 percent from a year earlier to 28.97 trillion won ($21.7 billion), while operating profit surged 584.8 percent to 322.5 billion won. E-Mart attributed the turnaround largely to cost savings February 11, 2026
  • Samsung Heavy secures $351 million container ship deal
    Samsung Heavy secures $351 million container ship deal SEOUL, February 11 (AJP) - Samsung Heavy Industries said Wednesday it has secured an order worth 468.6 billion won ($351 million) from an Africa-based shipping company to build two container ships. In a regulatory filing, the company said the vessels are scheduled for delivery by May 2028. With the latest contract, Samsung Heavy’s total orders for the year have reached $1.2 billion across seven vessels, equivalent to about 9 percent of its annual order target of $13.9 b February 11, 2026
  • Samsung to unveil Galaxy S26 at unpacked event in San Francisco on Feb. 25
    Samsung to unveil Galaxy S26 at unpacked event in San Francisco on Feb. 25 SEOUL, February 11 (AJP) - Samsung Electronics will unveil its flagship Galaxy S26 smartphone series later this month, with the launch event set to take place in San Francisco. The company will hold its “Galaxy Unpacked 2026” event at 10 a.m. local time on Feb. 25, corresponding to 3 a.m. on Feb. 26 in South Korea. Samsung is expected to highlight enhanced artificial intelligence features. A 17-second invitation video released by the company shows a Galaxy AI-them February 11, 2026