Hyundai Motor's Q2 operating profit falls 21% despite record sales SEOUL, July 23 (AJP) — Hyundai Motor, South Korea's largest automaker, suffered 20-percent dip in second-quarter operating profit even as quarterly revenue hit a record high, as weaker sales volume, higher costs, and an unfavorable product mix outweighed favorable currency effects. Operating profit for the April-June period came in at 2.851 trillion won, down 20.8 percent from a year earlier and slightly below market consensus, though up 13.4 percent from the first quart July 23, 2026

Samsung's 8-year-old foldables evolve for every need SEOUL, July 23 (AJP) - Foldables in their eighth generation have come of age, arriving in different shapes and forms tailored to different user needs with the artificial intelligence at the center of the experience, according to Samsung Electronics, the pioneer of foldable smartphones. At a media briefing held in central Seoul on Thursday, a day after Galaxy Unpacked in London, executives from the company's Mobile eXperience (MX) division walked journalists through the newly u July 23, 2026

Korea's battery trio turns corner on ESS boom SEOUL, July 23 (AJP) - South Korea's three largest battery makers are seen to have bottomed out in the second quarter as AI boom-led energy storage demand and renewed appetite for EVs from Gulf conflict-induced oil price turbulence pulled them out of a near two-year slump. The reversal of fortune has most benefited Samsung SDI, the underdog among the trio, with analysts expecting it to return to an operating profit for the first time in seven quarters. That would end a losing st July 23, 2026

Samsung says foldables have arrived — now AI is the real race SEOUL, July 23 (AJP) - Samsung Electronics said foldable smartphones have entered the mainstream, shifting the competitive battleground from hardware form factors to artificial intelligence as it expands its Galaxy Z8 lineup and pushes agentic AI across its device ecosystem. Speaking to reporters after Galaxy Unpacked in London, TM Roh, Samsung Electronics' chief executive and head of the Mobile eXperience (MX) division, said the newly unveiled Galaxy Z8 series marked a new st July 23, 2026

US House passes defense bill tightening guardrail against USFK troop cuts SEOUL, July 23 (AJP) - The U.S. House of Representatives has passed a fiscal 2027 defense policy bill that would strengthen congressional guardrails against any move to reduce the number of American troops stationed in South Korea below 28,500. The House approved its version of the National Defense Authorization Act (NDAA) on Wednesday in a 216-212 vote, advancing a $1.15 trillion defense policy package that authorizes military programs and sets national security priorities for the July 23, 2026

Naver exports smart-building tech to Tokyo tower in first commercial deal SEOUL, July 23 (AJP) - Team Naver, the consortium of Naver affiliates including Naver itself and Naver Cloud, announced it has deployed the smart-building technology behind its "1784" headquarters at a major Tokyo commercial complex. Working with NTT East and Mitsui Fudosan, the company revealed Thursday that it has fitted Tokyo Midtown Yaesu, a mixed-use office and retail tower in central Tokyo, with the autonomous robots, cloud-based control systems and digital-twin infr July 23, 2026

GM Korea reaches tentative wage deal with labor union SEOUL, July 23 (AJP) - GM Korea has reached a tentative wage deal with its labor union after weeks of negotiations, the automaker said on Thursday. The tentative deal includes a 92,000 South Korean won (about US$60) increase in monthly base pay and a total of 15 million won in lump-sum payments including bonuses and performance-based incentives. The deal reportedly also includes plans to assign new vehicle models to its plants in South Korea by the third quarter of next year. G July 23, 2026

Seoul, Washington 'inching closer to 1st investment project' under bilateral trade deal SEOUL, July 23 (AJP) - South Korea and the U.S. are discussing an energy-sector project that could become the first investment under their bilateral trade deal, with an announcement expected as early as late next month or in September. Trade, Industry and Energy Minister Kim Jung-kwan made the remarks after arriving in Washington, D.C., on Wednesday for a four-day visit to discuss investment and trade issues with U.S. officials including Commerce Secretary Howard Lutnick. "W July 23, 2026

Samsung Biologics posts 30% jump in second-quarter revenue SEOUL, July 23 (AJP) - Samsung Biologics reported a 30 percent rise in second-quarter revenue to 1.32 trillion won ($894 million), lifted by full utilization of its first four plants and a favorable won-dollar exchange rate, the South Korean contract drugmaker said. According to regulatory filings released Thursday, operating profit climbed 23 percent from a year earlier to 586.4 billion won. The robust growth came despite the company's first-ever full walkout, a five-day str July 23, 2026

Samsung's foldables share spotlight with AI eyewear at Galaxy Unpacked SEOUL, July 22 (AJP) - Samsung Electronics on Wednesday unveiled three new foldable smartphones and detailed its first AI-powered smart glasses, expanding the Galaxy ecosystem as it seeks to make artificial intelligence a more proactive part of consumers’ daily lives. At its Galaxy Unpacked event in London, the South Korean technology giant introduced the Galaxy Z Fold8 Ultra, Galaxy Z Fold8 and Galaxy Z Flip8, marking the first time it has offered three distinct models in i July 22, 2026