Hyundai Steel swings to Q1 operating profit on higher sales volume SEOUL, April 24 (AJP) - Hyundai Steel returned to the black in the first quarter of 2026, posting an operating profit of 15.7 billion won ($10.5 million) as rising sales volumes offset persistent cost pressures. The company reported consolidated revenue of 5.74 trillion won for the January to March period on Friday, up 3.2 percent from a year ago, buoyed by stronger product shipments. Operating profit, however, slid 63.7 percent quarter-on-quarter as exchange rate headwinds and elev April 24, 2026

KDB Life Insurance up for sale again SEOUL, April 24 (AJP) - Korea Development Bank (KDB) has begun a formal process to sell its subsidiary KDB Life Insurance, aiming to complete the sale within this year. According to industry sources, the state-run bank on Friday put out a notice to sell 116 million shares in KDB Life Insurance and relinquish management control. KDB holds 99.75 percent of the insurer's outstanding shares, making it the largest shareholder. This is not the bank's first attempt to sell April 24, 2026

Korean Air delivers 5,000th wingtip device for Airbus' A320 SEOUL, April 24 (AJP) - Korean Air has delivered its 5,000th "Sharklet," a wingtip device fitted to Airbus' A320 aircraft, the South Korean flagship carrier said on Friday. The upward-curving Sharklet is attached to the tip of the narrow-body airliner, helping improve aerodynamic efficiency and reduce fuel consumption. After winning a bid from Airbus in 2010 to manufacture Sharklets, Korean Air produced its first unit in July 2012 and has since built an automate April 24, 2026

Hyundai Mobis posts steady Q1 gains amid global demand slump SEOUL, April 24 (AJP) - Hyundai Mobis reported resilient first-quarter earnings, logging revenue of 15.56 trillion won ($10.5 billion) and operating profit of 802.6 billion won as expanded supply of high-value electrification components and robust aftermarket demand offset a broader cooling in global vehicle sales. Revenue rose 5.5 percent from a year earlier while operating profit climbed 3.3 percent, the company said in a regulatory filing on Friday. Net profit came in at 883.1 bi April 24, 2026

Korea's chip irony: record Samsung Elec shares and mass workers rally PYEONGTAEK, April 23 (AJP) -On the same day the KOSPI scaled a record high and South Korea posted its strongest quarterly growth in five years, tens of thousands of workers at the very heart of that boom took to the streets — protesting what they called a widening gap between record profits and compensation. “Even at this very moment, our colleagues are leaving,” shouted Thursday Woo Ha-kyung, acting head of the National Samsung Electronics Union, her voice hoarse April 23, 2026

Tariffs and rising costs bite Hyundai despite record quarterly revenue SEOUL, April 23 (AJP) - Despite posting record revenue, Hyundai Motor saw its profitability come under intense pressure as tariffs and rising costs eroded margins. Revenue rose 3.4 percent year on year to 45.9 trillion won, marking the highest first-quarter figure on record. The increase was supported by strong sales of high-margin SUVs and hybrid vehicles, even as global industry demand contracted 7.2 percent. Hybrid vehicles accounted for 17.8 percent of total sales, April 23, 2026

Honda Korea to exit car sales after two decades SEOUL, April 23 (AJP) - Honda Korea announced it will cease automobile sales in the country by the end of 2026, pulling the curtain on a presence that once crowned it the top-selling import brand but withered steadily over the past several years. Lee Ji-hong, CEO of Honda Korea, told a hastily convened press conference on Thursday at COEX in Seoul that the decision came after a thorough review of shifting market conditions and persistent currency headwinds. "We have comprehe April 23, 2026

Hyundai Motor profit falls sharply on cost surge, misses expectation SEOUL, April 23 (AJP) - Hyundai Motor, South Korea's largest automaker, posted a sharp drop in first-quarter earnings amid rising cost pressures from U.S. tariff barriers and Gulf-related shocks. Operating profit for the first quarter of 2026 came in at 2.51 trillion won, down 30.8 percent on year and in line with the market consensus of 2.4 trillion to 2.6 trillion won compiled by FnGuide. The underperformance reflects multiple headwinds for carmakers – sharp rise in o April 23, 2026

SK hynix redefines chip profit with 72% margin on HBM supremacy SEOUL, April 23 (AJP) -Regardless of the headline figures, SK hynix reigns as the most profitable chipmaker in the world and will likely stay so through the year as it consolidates leadership in high-bandwidth memory (HBM) critical to the AI transition through aggressive spending from its enhanced firepower. The Korean pure-play memory maker will test upgraded HBM4E prototypes in the second half for potential rollout next year depending on client demand, according to executives du April 23, 2026

Korea's 'Haegung' naval missile secures first export deal with Malaysia SEOUL, April 23 (AJP) - South Korea’s domestically developed naval missile “Haegung” has been exported for the first time, with a supply contract signed with Malaysia worth about $94 million. LIG D&A said Wednesday it had signed the deal with Malaysia’s defense ministry on the sidelines of the DSA 2026 defense exhibition in Kuala Lumpur, as Malaysia’s navy moves forward with modernization efforts, opening new opportunities in the Southeast Asian mar April 23, 2026