SK hynix plunge sinks KOSPI despite broader gains SEOUL, August 06 (AJP) -The KOSPI on Thursday reversed, weighed down by two heavyweights - SK and Samsung. The KOSPI, the main board of the Korea Exchange, closed at 6,296.4, down 4.6 percent, after SK hynix fell 10.4 percent to 1,495,000 won ($1,050) and Samsung Electronics dropped 6.3 percent to 230,500 won ($161.90). SK, the de facto holding company of the memory chipmaker, also lost 9.4 percent. The two chipmakers are worth roughly half the main board between them, and a wea August 6, 2026

South Korean animated feature invited to film fest in Toronto SEOUL, August 6 (AJP) - Director Youm Kyu-bock's animated film "Long Long Night" has been invited to this year's Toronto International Film Festival. The film will have its world premiere at the annual festival, which kicks off its 10-day run on Sept. 4, after being selected for the festival's Centrepiece programm, which showcases notable films from around the world, along with more than 50 other films. It marks the first South Korean feature-length an August 6, 2026

Makeshift igloo draws 30,000 to sweltering Seoul SEOUL, August 6 (AJP) - More than 30,000 Seoul residents visited a makeshift shelter set up at Gwanghwamun Square in central Seoul to seek relief from the scorching heat that has gripped the country in recent weeks, the Seoul Metropolitan Government said on Thursday. According to the city government, 30,405 people visited the shelter between June 10 and July 31, averaging 596 visitors a day. The makeshift facility, called "Happyso," a name combining the meanings of &quo August 6, 2026

Korean Inc. doles out over $5 bn in July cash dividends SEOUL, August 06 (AJP) — South Korean companies doled out more than 7.4 trillion won ($5.3 billion) in cash dividends in July, led by Samsung Electronics and Hyundai Motor, as businesses stepped up shareholder returns under the government's drive to improve corporate value. According to the Korea Exchange (KRX) on Thursday, 90 listed companies, including 58 on the main KOSPI market and 32 on the junior KOSDAQ market, announced cash dividend payments totaling about 7.4 tri August 6, 2026

Seoul is boiling, but protests go on SEOUL, August 06 (AJP) - A prolonged and deadly heat wave is tightening its grip on South Korea, with 21 suspected heat-related deaths and 2,441 patients reported nationwide between May 15 and Aug. 4. Despite the escalating health risks, rallies, news conferences and demonstrations have continued across central Seoul, leaving participants and police officers responsible for managing the events exposed to intense sunlight and high temperatures. A total of 9,477 rallies and demon August 6, 2026

KOSDAQ-listed processed meat producer seeks capital boost SEOUL, August 6 (AJP) - KOSDAQ-listed processed meat producer Wing Yip Food said Thursday that its chairman and major shareholders will further increase their stakes by investing 20.8 billion won in newly issued shares to strengthen the company's capital base. According to a disclosure filed with the Financial Supervisory Service (FSS), its chairman, Wang Xiantao, purchased 18,355 shares the previous day at an average price of 1,148 won per share, spending about 21.1 million won August 6, 2026

Won rides U.S.-Japan intervention as Seoul stays muted, Beijing cries foul SEOUL, August 06 (AJP) - South Korea has kept a studied silence over the first openly acknowledged U.S.-Japan currency intervention in decades, even as the won emerged as one of its biggest beneficiaries, while China condemned the operation as a self-serving bargain that is unlikely to alter the yen's long-term decline. The contrasting reactions underscore how Washington and Tokyo's joint defense of the yen has rippled differently across Asia. Seoul has avoided publicly comm August 6, 2026

Gwangju airport move to Muan may come sooner under chip cluster plan SEOUL, August 06 (AJP) - The planned relocation of domestic flights from Gwangju Airport to Muan International Airport could take place earlier than expected as the government moves to secure the Gwangju military air base site for a semiconductor cluster. The civilian airport had originally been scheduled to move upon completion of the second phase of the Honam high-speed railway, now slated for 2031, as the new rail link was expected to improve access to Muan Airport for passengers August 6, 2026

Hyundai's latest Avante sets first-day record with over 10,000 pre-orders SEOUL, August 6 (AJP) - Hyundai Motor received more than 10,000 pre-orders for its latest Avante sedan on the first day it became available, the automaker said Thursday. A total of 11,094 pre-orders were placed the previous day, setting a new first-day record for the model and surpassing the previous record of 10,058 pre-orders set by the previous version launched in April 2020. Hyundai attributed the record pre-orders to the eighth-generation model's enhanced competitivenes August 6, 2026

Kakao picks Coupang Eats as first AI agent partner SEOUL, August 06 (AJP) - Kakao announced it has chosen Coupang Eats as the inaugural partner for its artificial-intelligence agent, allowing users to receive food recommendations and complete orders and payments without leaving a KakaoTalk chat window. The tie-up announced Thursday marks the first concrete step in the South Korean internet giant's push to turn its dominant messaging app, used by about 50 million people, into what it calls an "acting AI platform" that l August 6, 2026