UPDATE: SK Innovation Q3 profit hits record on oil, lubricant margins SEOUL, October 29 (AJP) - SK Innovation's third-quarter operating profit jumped 532.5 percent from a year earlier to a record 3.7 trillion won ($2.77 billion), the South Korean energy company said Thursday in its preliminary earnings. According to regulatory filings, the company's revenue rose 39.7 percent to 28.77 trillion won, while net profit came to 2.64 trillion won, swinging from a 94.3 billion won loss a year earlier. From the second quarter, operating profit rose October 29, 2026

Kazakhstan awards friendship order to Korean industry minister SEOUL, October 29 (AJP) - Kazakhstan has given one of its high state honors to South Korea's industry minister, an official who first worked on Kazakh energy projects as a corporate executive. Ambassador Asset Issenali presented the Order of Dostyk, Second Class, to Kim Jung-kwan, minister of trade, industry and resources, at a Republic Day reception at Lotte Hotel Seoul on Wednesday. He said he was conferring it on behalf of President Kassym-Jomart Tokayev "in recognitio October 29, 2026

Britain names archaeologist-turned-diplomat new ambassador to Seoul SEOUL, October 29 (AJP) - Britain has appointed Rachel Emma-Jane Fentem, a former senior aide to three British foreign secretaries who holds a doctorate in archaeology, as its next ambassador to South Korea, the British government said on Wednesday. Fentem will succeed Colin Crooks, who is leaving the diplomatic service, and take up her post in March 2027, according to the Foreign, Commonwealth and Development Office (FCDO). The appointment will mark her first ambassadorial posti October 29, 2026

Lee pledges support for South Koreans injured in deadly train crash in Spain SEOUL, October 29 (AJP) - President Lee Jae Myung on Thursday expressed condolences to the victims of a deadly train collision in Spain and pledged support for South Koreans injured in the crash. In a post on the social media platform X, Lee expressed deep sadness over the crash, extended his condolences to the victims' families and the Spanish people, and wished the injured a speedy recovery. His condolences came after two high-speed trains collided the previous day on a r October 29, 2026

Jeju Air adds another Boeing aircraft to modernize fleet SEOUL, October 29 (AJP) - Jeju Air has added another Boeing 737-8 to its fleet as it seeks to improve fuel efficiency and cut operating costs, the low-cost carrier said on Thursday. With the addition, Jeju Air now has 14 Boeing 737-8s, accounting for 32.6 percent of its 43 passenger aircraft. The new aircraft will enter service after completing required procedures and receiving approval from relevant authorities. Jeju Air said it is the only low-cost carrier in South Korea th October 29, 2026

BOK stays cautious as Fed turns less hawkish SEOUL, October 29 (AJP) - The Bank of Korea (BOK) said Thursday it would remain vigilant over domestic financial and foreign exchange markets despite investors taking a less hawkish-than-expected view of the Federal Reserve's latest rate decision. The BOK held a market monitoring meeting at 8 a.m., chaired by Deputy Gov. Kwon Min-soo, to assess the outcome of the Federal Open Market Committee meeting and its potential impact on South Korean markets. The Fed kept the federal f October 29, 2026

Chip rally keeps KOSPI above 6,000 SEOUL, Oct. 29 (AJP) — SK hynix's third-quarter results kept South Korea's main index above 6,000 on Thursday, but the gain rested on a handful of chip heavyweights. The Korea Composite Stock Price Index (KOSPI) opened higher, rising 25.4 points, or 0.4 percent, to 6,037.8. However, LG Energy Solution shares tumbled after LG Chem sold a 2.5 trillion won (US$1.87 billion) stake in the battery maker, weighing on battery stocks and the tech-heavy KOSDAQ. The KOSDAQ, October 29, 2026

UPDATE: Samsung's chip division Q3 profit near $80B SEOUL, October 29 (AJP) - Samsung Electronics' semiconductor division earned 106.5 trillion won ($79.5 billion) in operating profit in the quarter ended September, accounting for nearly all of the South Korean electronics giant's record quarterly earnings and more than offsetting weakness in its non-chip businesses. Operating profit at the Device Solutions (DS) division jumped about 20 percent from the previous quarter and more than 15-fold from a year earlier on revenue o October 29, 2026

Jeju steps up bid to host global AI hub SEOUL, October 29 (AJP) - Jeju Island is stepping up efforts to host South Korea's planned global artificial intelligence (AI) hub, highlighting its international cooperation network and climate and energy infrastructure as key strengths in a nationwide competition. The provincial government has established a task force led by Vice Gov. Lee Chang-heum to prepare its bid for the project, which aims to bring international organizations, development banks and research institutions October 29, 2026

KHNP drops Dukovany builder after contract talks collapse SEOUL, October 29 (AJP) - Korea Hydro & Nuclear Power has broken off construction contract talks with a consortium of Daewoo E&C and Doosan Enerbility for the Czech Republic's Dukovany nuclear project, the state-run operator said Thursday. The talks collapsed over differences on key contract terms, KHNP said in an explanatory note. "KHNP and the contractor have made efforts to reach an amicable agreement through working-level talks, a dispute coordination committ October 29, 2026