Hanwha Aerospace, KAI sign pact to develop aircraft engines, drones SEOUL, February 06 (AJP) - Hanwha Aerospace and Korea Aerospace Industries (KAI) have agreed to cooperate on key future defense and aerospace projects, including development of aircraft engines and unmanned aircraft systems, the companies said on Friday. The companies signed a memorandum of understanding on Feb. 5 at Hanwha Building in central Seoul aimed at strengthening the global competitiveness of South Korea’s defense industry. The signing ceremony was attended by Han February 6, 2026

Naver posts double-digit revenue, profit growth, boosted by AI-driven advertising SEOUL, February 06 (AJP) - South Korea’s Naver Corp. reported double-digit growth in revenue and operating profit last year, supported by gains in advertising, e-commerce and fintech businesses, the company said in a regulatory filing on Friday. Consolidated revenue for 2025 rose 12.1 percent from a year earlier to 12 trillion won, while operating profit increased 11.6 percent to 2.21 trillion won. Fourth-quarter revenue climbed 10.7 percent on year to 3.2 trillion won, February 6, 2026

South Korea's Booyoung Group pays 3.6 billion won in birth incentives in 2025 SEOUL, February 05 (AJP) - South Korea's Booyoung Group paid 3.6 billion won ($2.46 million) in birth incentives last year to employees who had children, as part of a program offering 100 million won for each newborn. The company said payments were made for 36 children born to employees last year. Total payouts rose about 29 percent from 2.8 billion won a year earlier. Booyoung said that cases involving multiple births have increased since the program began in 2024. February 5, 2026

Overseas outlets of Korean dining brands jump 25 percent in 5 years SEOUL, February 05 (AJP) - South Korean dining brands have increased their overseas store count by nearly 25 percent over the past five years, a government survey showed on Thursday. According to the survey, released by the Ministry of Agriculture, Food and Rural Affairs and the Korea Agro-Fisheries & Food Trade Corp. (aT), Korean dining companies operated 4,644 stores across 56 countries last year, up from 3,722 outlets in 48 countries in 2020. Over the same period, the February 5, 2026

Samsung's Lee Jae-yong heads to Winter Olympics for global business meetings SEOUL, February 05 (AJP) - Samsung Electronics Chairman Lee Jae-yong has traveled to Italy to attend the 2026 Milan-Cortina Winter Olympics, where he is expected to combine Olympic engagements with meetings aimed at strengthening global business ties. Lee departed for Milan on Thursday, marking his first visit to an Olympic Games since attending the Paris Summer Olympics in 2024. Lee is expected to attend the opening ceremony and hold meetings with political and business le February 5, 2026

Celltrion posts record profit as new biosimilars drive sales growth SEOUL, February 05 (AJP) - South Korean biopharmaceutical company Celltrion reported record annual earnings on Thursday as strong sales of newer, higher-margin biosimilars lifted both revenue and profitability. In a regulatory filing, the firm said consolidated revenue for 2025 rose 17 percent from a year earlier to 4.16 trillion won, while operating profit jumped 137.5 percent to 1.17trillion won. It marked the first time Celltrion surpassed both 4 trillion won in annual revenue February 5, 2026

Hanwha expands Middle East footprint with debut of AI-integrated defense systems SEOUL, February 05 (AJP) - Hanwha is set to showcase next-generation, AI-enabled weapon systems on the global stage for the first time, signaling a major push into the Middle Eastern defense market and a deepening strategic partnership with Saudi Arabia. Hanwha aims to demonstrate South Korea’s defense competitiveness at the World Defense Show 2026 (WDS), to be held in Riyadh from Feb. 8 to 12. Hanwha Aerospace, Hanwha Systems and Hanwha Ocean announced Wednesday that they February 5, 2026

Hyundai Motor expands hydrogen truck push in Europe SEOUL, February 05 (AJP) - Hyundai Motor is stepping up promotion of hydrogen-powered commercial vehicles in Europe and North America, as its hydrogen-electric truck fleet in Europe surpassed 20 million kilometers in cumulative driving, the company said Thursday. The milestone underscores Hyundai’s push to expand hydrogen mobility overseas as governments and logistics companies seek to cut transport emissions. Hyundai’s XCIENT Fuel Cell trucks first entered servic February 5, 2026

South Korean trade minister urges swift passage of US investment bill SEOUL, February 05 (AJP) - South Korea’s trade minister Yeo Han-koo on Thursday urged swift passage of a special law to support investment in the United States, warning that delays in the National Assembly risk being misinterpreted in Washington as a lack of commitment. Speaking after returning from Washington, Yeo said progress on the bill has slowed, raising concerns that the United States could see this as reluctance by Seoul to carry out agreed tariff measures. Duri February 5, 2026

Korean tire makers weather US tariff headwinds, turn focus to high-end segment SEOUL, February 04 (AJP) - South Korean tire manufacturers reported higher sales last year despite the impact of U.S. tariffs on auto parts, supported by solid replacement-tire demand and price increases. Hankook Tire & Technology said Wednesday its tire business recorded sales of 10.32 trillion won ($7.7 billion) last year, up 9.6 percent from a year earlier and surpassing the 10 trillion won mark for the first time. Operating profit, however, fell 4.4 percent to 1.68 trill February 4, 2026