Naver confirms KEF membership, plays down labor-tension angle SEOUL, August 12 (AJP) - Naver, South Korea's largest internet company, has become the first domestic IT firm to join the Korea Enterprises Federation, the country's main employers' body. A Naver spokesperson said Wednesday that the membership, secured late last year, should be read chiefly through the lens of industrial convergence rather than labor relations. "This is a period when AI is accelerating connections across industries, and it should be seen as an ef August 12, 2026

Pandemic hangover? Young Koreans opt solo as socializing gets pricey SEOUL, August 12 (AJP) - For Jin, a corporate worker in his 30s, some friendships have simply become too expensive to maintain. “I feel uncomfortable meeting friends who want to eat somewhere expensive every single time,” he said. “I also don’t like taking turns paying for meals. Splitting the bill is just easier.” HJ Kim, 32, has reached much the same conclusion. What bothers her is not merely the price of dinner, but the invisible accounting that c August 12, 2026

N. Korea fires ballistic missile ahead of UFS, possible hypersonic weapon tested SEOUL, August 12 (AJP) - North Korea fired a ballistic missile into the East Sea on Wednesday, with analysts raising the possibility that Pyongyang tested a hypersonic short-range ballistic missile or a medium-range weapon flown on a shortened trajectory. South Korea’s Joint Chiefs of Staff said it detected the missile launched from the Wonsan area at around 6 a.m. “Our military detected a ballistic missile launched from the Wonsan area toward the East Sea at around 6 August 12, 2026

KT Q2 profit falls 36% on tough property-gain base, AI revenue climbs SEOUL, August 12 (AJP) - KT reported a 36.1 percent year-on-year drop in second-quarter operating profit, as the absence of a large one-off property gain that lifted last year's earnings to a record weighed on the bottom line. According to regulatory filings released Wednesday, the telecommunications carrier posted consolidated operating profit of 648.3 billion won ($457 million) for the April to June quarter, down from 1.01 trillion won a year earlier. Revenue fell 10.1 percent August 12, 2026

Demand for Korea's 1-yr central bank bond hits 29-mo low SEOUL, August 12 (AJP) - Demand for South Korea's one-year central bank bond fell to a 29-month-month low Wednesday as bids missed the planned issuance, signaling that the enlarged supply could not clear at the yield the Bank of Korea was prepared to pay. The weakness lay not in participation but in the size of the bids, as 15 institutions took part, one more than in July, even as their combined orders fell 41.2 percent. The BOK received 500 billion won in bids for 700 billio August 12, 2026

Sempio marks 80th anniversary with 'Cook Happily' campaign Sempio employees take a commemorative photo during the 'Cook Happily' campaign marking Sempio's 80th anniversary, held on the first floor of the Sempio building in Jung-gu, Seoul, August 12, 2026. August 12, 2026

Sempio marks 80th anniversary with 'Cook Happily' campaign Sempio employees shop for company products to cook at home during the 'Cook Happily' campaign marking Sempio's 80th anniversary, held on the first floor of the Sempio building in Jung-gu, Seoul, August 12, 2026. August 12, 2026

Sempio marks 80th anniversary with 'Cook Happily' campaign Sempio employees shop for company products to cook at home during the 'Cook Happily' campaign marking Sempio's 80th anniversary, held on the first floor of the Sempio building in Jung-gu, Seoul, August 12, 2026. August 12, 2026

Sempio marks 80th anniversary with 'Cook Happily' campaign Sempio employees shop for company products to cook at home during the 'Cook Happily' campaign marking Sempio's 80th anniversary, held on the first floor of the Sempio building in Jung-gu, Seoul, August 12, 2026. August 12, 2026

Shares of internet infrastructure firm fall despite strong Q2 earnings SEOUL, August 12 (AJP) - Shares of KOSDAQ-listed internet service provider KINX fell on Wednesday even after it posted a more than 50 percent jump in second-quarter operating profit. Its shares closed 6.99 percent lower at 151,600 won (US$107.14). The decline came despite a 51.15 percent jump in consolidated operating profit from a year earlier to 8.82 billion won ($6.2 million) for the period between April and June, according to its preliminary earnings report released the same day August 12, 2026