Celltrion confirms record quarterly profit above preliminary estimate SEOUL, July 27 (AJP) - Celltrion confirmed record second-quarter earnings on Monday that came in above its own preliminary estimate, as newer, higher-margin biosimilars and faster cost improvements outpaced the company's initial reckoning. Final audited revenue rose 45 percent from a year earlier to 1.39 trillion won ($953 million), while operating profit jumped 86.3 percent to 451.8 billion won, the biosimilar maker said in a regulatory filing. Both figures topped the prelim July 27, 2026

Samsung opens Galaxy Z8 preorders as record Fold7 demand sets high bar SEOUL, July 27 (AJP) - Samsung Electronics will begin taking preorders in South Korea on Tuesday for its latest foldable smartphones, testing whether a broader lineup and storage incentives can sustain demand after last year’s record-breaking launch. Preorders for the Galaxy Z Fold8 Ultra, Galaxy Z Fold8 and Galaxy Z Flip8 will run from July 28 through Aug. 3, Samsung said Monday. Customers can receive and activate the devices from Aug. 4, ahead of their official domestic re July 27, 2026

FSS flags settlement-date pitfall for overseas stock tax breaks SEOUL, July 27 (AJP) —South Korean investors may lose part of their tax breaks on overseas stock sales if transactions settle after program deadlines, even when the trades themselves were executed on time, the Financial Supervisory Service (FSS) warned Monday. The regular reminded that capital gains tax deductions under the Repatriation Individual Account (RIA) program are determined by the settlement date rather than the trade date, meaning investors who sell too close to t July 27, 2026

Lee inspects military transport aircraft in Brazil, kicking off South American tour SEOUL, July 27 (AJP) - President Lee Jae Myung arrived in Brazil on Sunday for the first leg of his three-nation South American tour, which will also take him to Chile and Argentina later this week. After landing at Brasília International Airport, Lee headed to an air force base to inspect a C-390 military transport aircraft manufactured by Brazilian aerospace company Embraer, which South Korea is set to acquire. There, he met South Korean Air Force personnel including pi July 27, 2026

SK hynix holds onto rival Kioxia as AI turns NAND into battleground SEOUL, July 26 (AJP) — Bain Capital earlier this month has closed the book on one of the biggest private equity wins of the artificial intelligence era by fully exiting Japanese memory chipmaker Kioxia. SK hynix, however, is staying put. The South Korean memory giant continues to hold an indirect 14 percent stake in Kioxia through a special-purpose investment vehicle established during Bain's 2018 acquisition of Toshiba Memory, underscoring that the investment has ev July 26, 2026

Samsung-Broadcom AI pact signals race for long-term chip supply SEOUL, July 26 (AJP) - Samsung Electronics' sweeping five-year semiconductor partnership with Broadcom underscores a structural shift in the AI era, as leading technology companies increasingly lock in long-term chip supplies rather than rely on the notoriously volatile memory market. The memorandum of understanding, unveiled during the AI Summit in San Francisco on Friday, extends Samsung and Broadcom's collaboration through 2030 across high-bandwidth memory (HBM), advanc July 26, 2026

South Korea swelters through hottest vacation weekend SEOUL, July 26 (AJP) — South Korea's peak summer vacation season opened under suffocating heat on Sunday, with the heat index approaching 38 degrees Celsius across parts of the country's south, prompting heat-related deaths, livestock losses and a mass exodus to beaches and water parks. The Korea Meteorological Administration maintained its highest-level heat warnings across parts of North Gyeongsang, South Gyeongsang, South Jeolla and Daegu, where apparent temper July 26, 2026

When merits break: Will cockroach movement test Asia's youths? SEOUL, July 26 (AJP) - The most remarkable thing about India's Cockroach movement is not that it forced the resignation of a cabinet minister. It is that it began with an insult. When a senior judge reportedly dismissed unemployed young Indians as "cockroaches" and "parasites," Generation Z did something previous generations rarely attempted. Instead of rejecting the slur, they adopted it, transforming a satirical Instagram page into a nationwide movement t July 26, 2026

Southeast Korea sizzles as heat hotspot spreads beyond 'Daefrica' SEOUL, July 26 (AJP) -South Korea's notorious summer heat is no longer confined to "Daefrica," the nickname long used for the sweltering city of Daegu, as extreme temperatures spread across much of neighboring North Gyeongsang Province in what meteorologists describe as a broader and more persistent heat wave. The Korea Meteorological Administration on Sunday expanded its highest-level extreme heat emergency warning to additional areas including Gyeongsan and Cheongdo, July 26, 2026

Love, legacy and the price of a chaebol divorce SEOUL, July 26 (AJP) -There is no shortage of Korean dramas built around chaebol heirs falling in love against the odds. Real life has produced stories just as compelling — except that the endings are often written not by scriptwriters but by judges. Record 944 billion won ($680 million) divorce award involving SK Group Chairman Chey Tae-won and former wife Roh Soh-yeong last Friday has added another chapter to the small club of Korea's most consequential corporate brea July 26, 2026