Naver, KAI join forces on Korean defense AI platform SEOUL, July 07 (AJP) - Naver and cloud affiliate Naver Cloud, collectively known as Team Naver, have agreed to build a domestically developed defense artificial intelligence platform in partnership with Korea Aerospace Industries (KAI), the companies said. The three firms signed a strategic memorandum of understanding on aerospace and defense AI cooperation on Monday at KAI's headquarters in Sacheon, South Gyeongsang Province. Naver chief executive Choi Soo-yeon, Naver Cloud July 7, 2026

Samsung Elec Q2 profit nears 90 trillion won even after bonus package SEOUL, July 07 (AJP) - Samsung Electronics on Tuesday estimated second-quarter operating profit at 89.4 trillion won ($58.4 billion) beating consensus of around 84.60 trillion won, as hot chip selling prices more than offset the cost of record performance bonuses for semiconductor employees. The preliminary figure compares with operating profit of 57.2 trillion won in the previous quarter and 4.7 trillion won a year earlier and fueled a red-hot earning streak for the third quarter July 7, 2026

Canada names TKMS preferred bidder and Hanwha as reserve bidder for sub deal SEOUL, July 07 (AJP) - Canada on Monday named Germany’s TKMS as the preferred supplier for its "largest-ever" procurement to acquire up to 12 new submarines, selecting the Type 212CD over South Korea’s KSS-III Batch-II in what had been a "difficult and close decision," according to its state head. Prime Minister Mark Carney announced the choice that involved heavily government-backed competition between Germany and South Korea in Halifax, Nova Scotia July 7, 2026

Germany's TKMS reportedly picked for Canada submarine program SEOUL, July 06 (AJP) - Canada has selected Germany’s TKMS as the preferred bidder for its program to acquire up to 12 new submarines, The Globe and Mail reported Monday, citing unnamed government sources ahead of an expected official announcement. The reported decision would see TKMS’s Type 212CD chosen over South Korea’s KSS-III Batch-II, dealing a setback to Hanwha Ocean after an intense, nearly yearlong competition for one of Canada’s largest-ever military July 6, 2026

Korea's Air Force, SNU launch AI initiative to reshape aerospace warfare SEOUL, July 06 (AJP) - Seeking to accelerate its digital frontline transformation, the South Korean Air Force has partnered with Seoul National University (SNU) to develop three key AI technologies that can be directly deployed in military operations. The projects will focus on tracking mobile missile launchers, automatically identifying targets and generating combat plans for aerospace operations. Each project will be carried out by a joint team consisting of SNU researchers and a July 6, 2026

South Korea picks Gwangju military airport site for Honam chip cluster SEOUL, July 06 (AJP) - South Korea will build its planned Honam semiconductor cluster on the site of the Gwangju military airport after the government selected the location as the preferred site for the project, the presidential office said on Monday. The decision was reached during a public-private review meeting on the government's three flagship regional development projects chaired by President Lee Jae Myung, Presidential Chief of Staff Kang Hoon-sik said. The government w July 6, 2026

Samsung Electronics awards up to 100% bonus to chip division for first half SEOUL, July 06 (AJP) - Samsung Electronics said on Monday it will pay performance bonuses of up to 100 percent of monthly base salary to employees in its semiconductor division for the first half of the year, ahead of its second-quarter earnings announcement. The company said its Memory Business will receive the maximum Target Achievement Incentive (TAI) payout of 100 percent of monthly base salary for a second consecutive half, reflecting improved earnings driven by higher high b July 6, 2026

Hanwha Ocean stock flies ahead of imminent Canada announcement SEOUL, July 06 (AJP) - From Hanwha Ocean's share price, investors appear to believe its victory—or at least a sizable share—in Canada's multibillion-dollar submarine program is all but assured. Hanwha Ocean ended Monday up 7.3 percent at 114,700 won after surging as much as 15 percent earlier while the benchmark KOSPI remained in negative territory, on expectations that its name will be called out by Canadian Prime Minister Mark Carney when he announces the prefe July 6, 2026

LG Electronics seen posting solid Q2 on AI cooling, auto parts SEOUL, July 06 (AJP) - LG Electronics Inc. is set to deliver another strong quarter Tuesday as the Korean premium home appliance maker finds a robust position in the AI era through cooling systems essential for AI data centers and a resilient auto-parts business, making its earnings less dependent on consumer whims. According to FnGuide consensus, LG Electronics is estimated to have earned 1.02 trillion won ($666 million) in operating profit on revenue of 22.54 trillion won ($14.7 July 6, 2026

China extends lead in global shipbuilding as South Korea focuses on high-value vessels SEOUL, July 6 (AJP) - China maintained its dominance in the global shipbuilding market in the first half of this year, accounting for 72 percent of global orders. South Korean shipbuilders held just 19 percent, as they focused instead on high-value ships like liquefied natural gas (LNG) carriers. According to data released by London-based Clarkson Research Services on Monday, cumulative global ship orders in the first six months of this year reached 42.95 million compensated gross t July 6, 2026