Samsung workers take protest to Seocho as record shareholder payout raises stakes SEOUL, August 21 (AJP) - "Seocho is next!" That was the promise Samsung Electronics workers made on July 16, when thousands gathered outside the company's Suwon campus for the first rally organized by the newly formed Donghaeng union. A little over a month later, they made good on it. Thousands of workers descended on Samsung's Seocho headquarters in southern Seoul on Friday, demanding answers over the deteriorating fortunes of the company's consumer-el August 21, 2026

Samsung expects up to 110 trillion won in shareholder returns this year SEOUL, August 21 (AJP) - Samsung Electronics expects to return as much as 110 trillion won ($79.5 billion) to shareholders this year, setting up the largest shareholder return in the company's history as strong cash generation boosts funds available for dividends and share buybacks. The South Korean technology giant said Friday its board approved a plan for total shareholder returns of between 90 trillion won and 110 trillion won in 2026, roughly five times its previous annual August 21, 2026

Unionized workers at Kia to go on partial strike next week SEOUL, August 21 (AJP) - As unionized workers at Hyundai Motor began a full-scale strike for the first time in 10 years on Friday, workers at its affiliate Kia also decided to go on strike next week, according to industry sources. Kia's union voted to stage a three-day partial strike from Aug. 26 to 28, with workers planning to stop work for two to four hours each day. But it remains to be seen, as the union is set to hold another round of talks before doing so. If the stri August 21, 2026

Kakao to split businesses in major AI restructuring SEOUL, August 21 (AJP) - Kakao will split its key businesses into two entities, KakaoAI and KakaoX, in a major restructuring to strengthen its artificial intelligence (AI) capabilities and creating new growth engines, the South Korean messaging giant said on Friday. The decision was made at its board of directors' meeting the previous day, with the spinoff scheduled to be completed by Jan. 1 next year, after getting shareholder approval at an extraordinary shareholders' meet August 21, 2026

LG sweeps major global design awards across TVs, robots and home appliances SEOUL, August 21 (AJP) - LG Electronics has completed a sweep of the world's three major design awards this year, winning 17 prizes at the 2026 International Design Excellence Awards after earlier collecting honors from Red Dot and iF across products ranging from televisions and robots to heating systems and laptops. LG said Friday it received five bronze awards and 12 finalist honors at IDEA 2026, organized by the Industrial Designers Society of America. The company had previ August 21, 2026

Musinsa partners with Vietnamese retailer in latest entry into Southeast Asian market SEOUL, August 21 (AJP) - South Korean fashion platform Musinsa is expanding into Viet Nam, marking its latest move into Southeast Asia after recently entering the Philippines and Indonesia. Musinsa said Friday it has signed a partnership with Au Chau Fashion and Cosmetics Company (ACFC), a subsidiary of Vietnamese retailer Imex Pan Pacific Group (IPPG), to expand its brands in Viet Nam and reach more local customers. Under the partnership, the two companies also plan to open o August 21, 2026

Retirement age fight halts every Hyundai Motor plant in S. Korea SEOUL, August 21 (AJP) - Every production line at South Korea's largest automaker went down Friday morning as workers began their first full-day strike in a decade, a walkout that turns on how long they get to keep their jobs rather than on how much they are paid. Morning-shift members of the Hyundai Motor union, who normally clock in at 6:45 a.m., did not come to work. The afternoon shift that starts at 3:30 p.m. will not report either, leaving plants in Ulsan, Jeonju and Asa August 21, 2026

SK hynix turns AI windfall into shares with new bonus deal SEOUL, August 20 (AJP) - SK hynix is spreading the gains from its AI memory boom across employees and shareholders, striking a tentative deal to pay 60 percent of performance bonuses in company shares just a day after unveiling a record 40 trillion won ($28.6 billion) share buyback. The two moves underscore how surging profits and cash flow are giving the world's leading HBM supplier room to simultaneously reward workers and shareholders while continuing massive investment in August 20, 2026

LG Electronics takes materials business offshore with marine restoration project Courtesy of LG Electronics SEOUL, August 20 (AJP) - LG Electronics is expanding its push into functional materials beyond home appliances, deploying a proprietary mineral-releasing material in a four-year marine restoration project as it seeks to develop the technology into a new business-to-business growth engine. The company said Thursday it signed an agreement with South Korea's Ministry of Oceans and Fisheries, South Gyeongsang Province and the Korea Fisheries Resources Agency August 20, 2026

US ambassador meets American executives in first Seoul business talks SEOUL, August 20 (AJP) - The new U.S. ambassador to South Korea met senior executives from American companies operating in the country on Thursday, her first group engagement with the U.S. business community since taking up her post three weeks ago. The American Chamber of Commerce in Korea hosted Michelle Steel for a breakfast roundtable at its office in Yeouido, Seoul. The chamber, founded in 1953, says it represents more than 800 member companies and affiliates, making it the l August 20, 2026