Hanwha bids $1.2 billion for Austal USA to boost US shipbuilding SEOUL, August 11 (AJP) - Hanwha Group is seeking to acquire the U.S. operations of Australian shipbuilder and defense contractor Austal, stepping up efforts to expand its shipbuilding and defense presence in the United States. Hanwha has proposed acquiring 100 percent of the businesses and operating assets of Austal USA at an enterprise value of between $1.05 billion and $1.2 billion on a cash-free, debt-free basis. The move comes after Hanwha built a 19.9 percent stake in Austal August 11, 2026

Samsung SDI to buy out GM's Indiana battery plant SEOUL, August 11 (AJP) - Samsung SDI announced Tuesday it will buy out General Motors' entire 49.99 percent stake in their U.S. battery joint venture, SynergyCells, giving the South Korean cell maker its first wholly owned battery plant in North America. The two companies also signed a joint development agreement to co-develop next-generation prismatic batteries for electric vehicles, drawing on Samsung SDI's high energy density and fast-charging technologies. The resulti August 11, 2026

Unitree heads to market as China dominates humanoid robotics' first act SEOUL, August 11 (AJP) - In humanoid robotics’ first commercial act, there is one dominant player: China, whose manufacturers accounted for more than 97 percent of global shipments in the first half of 2026. South Korea, despite betting heavily on physical AI, remains largely a robotics powerhouse inside its own factory gates. Korea has 1,220 industrial robots per 10,000 manufacturing workers, the highest density in the world, according to the International Federation of Ro August 11, 2026

Military to relocate Gwangju Air Base operations by 2028 for semiconductor cluster SEOUL, August 11 (AJP) - South Korea's Defense Ministry said Tuesday it will push to temporarily relocate military operations from Gwangju Air Base to other bases by mid-2028, clearing the way for the site to be developed as part of a major semiconductor cluster. “Consultations have continued throughout the process at various levels, including involving the defense minister, vice minister and chairman of the Joint Chiefs of Staff,” the Defense Ministry spokesperson s August 11, 2026

CJ CheilJedang's Q2 operating profit slides on costs, weak home market SEOUL, August 11 (AJP) - CJ CheilJedang, South Korea's largest food and bioscience group, announced that its second-quarter operating profit fell sharply as sluggish domestic demand and oil-driven increases in packaging and raw material costs squeezed margins. According to regulatory filings released Tuesday, consolidated revenue edged up 1.7 percent from a year earlier to 7.36 trillion won (about $5.19 billion) in the April-June quarter, while operating profit dropped 27.1 perc August 11, 2026

NHN Q2 operating profit surges 164% on payment, tech growth SEOUL, August 11 (AJP) - South Korean internet firm NHN announced that its second-quarter operating profit jumped 164 percent from a year earlier, powered by robust demand across its payment, cloud and gaming businesses. According to regulatory filings released Tuesday, operating profit reached 57.9 billion won ($40.9 million) on a consolidated basis, while revenue climbed 25.3 percent to 757.9 billion won. Net profit rose 159 percent to 29.1 billion won. Payments, NHN's l August 11, 2026

Hanwha raises KAI stake above 15%, weighs greater role SEOUL, August 10 (AJP) - Hanwha Group has raised its combined stake in Korea Aerospace Industries (KAI) to more than 15 percent, strengthening its position as the defense aircraft maker's second-largest shareholder and signaling deeper involvement in its strategic decision-making. Hanwha Systems said Monday it purchased an additional 3.45 percent stake in KAI on the open market over the past month. The purchases lifted Hanwha Group's combined ownership of KAI to 15.89 per August 10, 2026

UFS puts S. Korea's OPCON transfer push to the test SEOUL, August 10 (AJP) - South Korea and the United States will stage their annual Ulchi Freedom Shield exercise from Aug. 17 to 27 in what will double as a test of Seoul’s push to advance the transfer of wartime operational control (OPCON) even as questions remain over whether a Korean-led command is ready for the full demands of war. The Joint Chiefs of Staff and the South Korea-U.S. Combined Forces Command announced the schedule during a joint briefing Monday, describing UF August 10, 2026

World-OKTA opens AI startup course ahead of Shenzhen finals SEOUL, August 10 (AJP) - The World Federation of Overseas Korean Traders Associations, known as World-OKTA, is recruiting participants for a four-day online course on agentic AI, the classroom stage of a startup competition that culminates in Shenzhen this autumn. The training runs from Aug. 18 to Aug. 21 on Zoom, Korea time, with applications closing Aug. 14. Eight modules trace a venture from idea discovery and customer research through problem-solution fit, business modeling, August 10, 2026

Chinese shipping line launches regular Arctic container service to Europe SEOUL, August 10 (AJP) - A Chinese shipping company is launching what is described as the first regular container service linking Asia and Europe via the Arctic, as melting sea ice and geopolitical risks along traditional shipping routes draw growing attention to the Northern Sea Route. Chinese carrier Sea Legend will begin operating a scheduled container service this week between Ningbo in eastern China and Felixstowe in the United Kingdom, the Financial Times reported Monday. T August 10, 2026