KF-21 cleared for combat, opening era of Korean-made fighter jets SEOUL, May 07 (AJP) - South Korea’s homegrown KF-21 fighter jet has received final combat suitability approval, clearing the last major hurdle in its development 10 years and five months after the project began. The Defense Acquisition Program Administration (DAPA) said Thursday that the KF-21 was declared suitable for combat use, meaning the aircraft has met the Air Force’s required operational capability and secured the technical reliability needed to carry out mission May 7, 2026

The higher Samsung Elec goes, the deeper internal collision over rewards SEOUL, May 07 (AJP) - Samsung Electronics has much to celebrate — joining the rare ranks of companies generating more than $40 billion in quarterly profit and surpassing a $1 trillion market capitalization. Yet beneath the triumph, the company faces growing internal strains that mirror the strengths and vulnerabilities of the broader Korean economy, heavily hanging on the semiconductor boom. The founding principle of “One Samsung” is showing visible cracks as May 7, 2026

Tesla extends lead over BMW to top imported car market for third consecutive month SEOUL, May 7 (AJP) - American electric vehicle maker Tesla continued its dominance in South Korea's imported car market in April, selling more than 10,000 vehicles to retain the top spot for a third consecutive month after overtaking Germany's BMW for the first time in February. According to the Korea Automobile Importers & Distributors Association (KAIDA), Tesla led with 13,190 registrations, followed by BMW with 6,658 and Mercedes-Benz with 4,796. China's BYD ranke May 7, 2026

​​​​​​​HOT STOCK: Hyosung Heavy takes breather after 50% near-nonstop rally SEOUL, May 07 (AJP) - Hyosung Heavy Industries, a Seoul-based transformer and switchgear maker, has emerged as one of the KOSPI’s standout AI infrastructure plays outside chip behemoths, with its shares soaring more than eightfold from a year earlier. The stock rose as high as 4,742,000 won ($3,267) on Thursday before easing to 4,558,000 won as of 2 p.m. Hyosung Heavy has gained nearly 50 percent in just two weeks from 2,990,000 won on April 16, and more than eightfold from 5 May 7, 2026

Korea weighs Louisiana LNG project for $200 bln US investment package SEOUL, May 07 (AJP) - South Korea has begun reviewing a liquefied natural gas export terminal project in Louisiana as a potential first project under its $200 billion strategic investment package with the U.S., officials and industry sources said Thursday. The Ministry of Trade, Industry and Energy recently selected a consortium of Samil PwC and Kim & Chang to advise on the Louisiana LNG project, part of the Korea-U.S. strategic investment package agreed last year. Industry w May 7, 2026

Kakao posts record first-quarter earnings as AI fuels Korea's platform giants SEOUL, May 07 (AJP) - South Korea's platform giants are converting an artificial intelligence investment cycle into top-line momentum, with Kakao joining rival Naver in delivering AI-revved first-quarter earnings. According to regulatory filings on Thursday, Kakao's consolidated operating profit jumped around 65.9 percent from a year earlier to 211.4 billion won ($145.7 million) on an adjusted basis, while revenue climbed 11.1 percent to 1.94 trillion won — both first May 7, 2026

Apple weighs Samsung for chip supply as Samsung joins $1 trillion club SEOUL, May 06 (AJP) - Apple Inc. is reportedly exploring partnerships with Samsung Electronics and Intel to reduce its heavy reliance on Taiwan Semiconductor Manufacturing Co. (TSMC) for processor production, a shift that coincides with Samsung securing a new 4-nanometer artificial intelligence (AI) chip order from a U.S. firm. According to a recent report by Bloomberg, Apple is in early-stage discussions with Samsung and Intel to manufacture its core processors. The move is widel May 6, 2026

Hyundai Motor Group revamps labor command at Mobis SEOUL, May 06 (AJP) - Hyundai Motor Group has reportedly created a vice president-level post dedicated to labor affairs at parts affiliate Hyundai Mobis and tapped Jeong Sang-bin, head of Hyundai Motor's policy development office, to fill it, as the country's largest automaker tightens its grip on union risk across the supply chain. The group also elevated oversight of labor relations to the president level, naming Kia President Choi Jun-young as the new chief of the policy May 6, 2026

AI boom reshapes South Korea's top 500 companies by sales SEOUL, May 6 (AJP) - South Korea's top 500 companies by sales saw a major reshuffle, with 35 firms newly joining or dropping off the list amid the growing influence of artificial intelligence-related sectors including semiconductors, defense, and batteries. According to a report released Tuesday by corporate tracker CEO Score, electronics giant Samsung Electronics remained No. 1 with 333.61 trillion won (US$230 billion) in sales as of the end of last year, up 10.9 percent from a May 6, 2026

Celltrion posts record Q1 as new biosimilars drive earnings surge SEOUL, May 06 (AJP) - South Korean biopharmaceutical firm Celltrion reported its strongest first-quarter results on record, as a wave of newly launched biosimilars accelerated overseas sales and pushed operating profit more than twofold higher. According to regulatory filings released Wednesday, the company logged consolidated revenue of 1.14 trillion won ($779.43 million) and operating profit of 321.9 billion won for the three months ended March 31, up 36 percent and 115.5 percent, May 6, 2026