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Vietnam Advances to ASEAN Football Cup Semifinals After Defeating Cambodia Vietnam finished first in Group A of the 2026 ASEAN Football Cup, often referred to as the World Cup of Southeast Asia, after defeating Cambodia. Under the leadership of coach Kim Sang-sik, Vietnam secured a spot in the semifinals and gained the advantage of playing at home. Despite this achievement, the teams lapses in concentration during the match raised concerns ahead of the semifinals.On August 7, Vietnam won 3-1 against Cambodia in the final group match held at My Dinh National Stadium in Hanoi. This victory confirmed their top position in the group and allowed them to host the second legs of both the semifinals and finals.Prior to the final match, Vietnam was already leading the group standings. After drawing with Singapore at home, they regained momentum with a 3-0 victory against Indonesia, finishing with 7 points, equal to Singapore but ahead on goal difference with +10. Indonesia trailed by one point, while Cambodia and Timor-Leste had already been eliminated.The likelihood of Vietnam being eliminated from the group stage was virtually nonexistent. They would have needed to lose to Cambodia by a score of 0-9 while Indonesia defeated Singapore 1-0 to fall short on goal difference. Additionally, Vietnam had a perfect record against Cambodia, winning all 11 encounters since 1995, scoring 48 goals and conceding only 8. Despite pre-match predictions of an upset, Cambodia could not change the outcome. Cambodian coach Koji Yoshida remarked, Something unexpected could happen in the 12th match. However, Vietnam maintained their dominance, extending their winning streak against Cambodia to 12 matches.Vietnam will face Malaysia, the second-place team from Group B, in two semifinal matches on August 16 and 19. The first leg will be in Malaysia, while the second leg will be held in Vietnam. The winner of this matchup will advance to face the winner of the match between Thailand and Vietnam in the finals.Dean Parks Two Goals Lead Vietnam to Group A VictoryVietnam took the lead in the 18th minute with a goal from Dean Park, who skillfully maneuvered between three Cambodian defenders before scoring with a right-footed diagonal shot. This was the first goal for Vietnam at My Dinh National Stadium in this tournament.Coach Kim made a tactical change at the start of the second half, bringing in Nguyen Suan Son to increase the attacking intensity. In the 56th minute, Dean Park broke down the left flank and delivered a low cross, but Suan Son failed to capitalize on the opportunity, and Tien Ans left-footed shot went over the bar.As Vietnam struggled to extend their lead, Cambodia equalized in the 71st minute. Iago Bento received a long pass from his own half, evaded Suan Main, and scored with a left-footed shot past goalkeeper Patrick Le Zhang. The atmosphere at My Dinh National Stadium briefly dampened after the equalizer.Vietnam regained the lead late in the match. In the 84th minute, Suan Son, receiving a pass from Le Pham Thanh Long, faced the Cambodian goalkeeper. His shot appeared to be going wide, but defender Bakim misplayed the clearance, resulting in an own goal.The match was sealed in the 89th minute with Dean Parks second goal. Thanh Long delivered another precise pass, and Dean Park capitalized on a moment of hesitation from goalkeeper Salim Koi to score calmly, completing the 3-1 victory in front of approximately 20,000 fans.After the match, Coach Kim expressed high expectations for Dean Park. He reflected on the decision to substitute Dean Park before halftime in the previous match against Singapore, stating, I feel regret and apologize for taking Dean Park out before the end of the first half against Singapore. He added, However, Dean Park understood that he had to sacrifice for the team. Both the team and Dean Park overcame the difficult situation that day and performed well today, scoring two goals.Coach Kim acknowledged Dean Parks excellent form but emphasized his high standards for all players. Dean Park must reach the level of Asia and ultimately the world, and I hope he understands my expectations, he said.While satisfied with the victory, Coach Kim pointed out the lapses in concentration that led to the goal conceded. He viewed the 3-1 win as a positive outcome, securing Vietnams top position in Group A and the advantage of hosting the second legs of the semifinals and finals. However, he noted that mistakes and lapses in focus that led to the goal conceded against Cambodia would serve as lessons ahead of the semifinals.With this victory, Vietnam has reached the semifinals of Southeast Asian tournaments for the seventh consecutive time. In the previous six semifinal appearances, they reached the finals three times, winning in 2018 and 2024, and finishing as runners-up in 2022. By finishing first in their group this time, they continue the momentum of being the defending champions.Meanwhile, Coach Kim sees the eight days leading up to the semifinals as crucial for the players to recover physically and mentally. The victory over Cambodia has given Vietnam the top spot in the group and home advantage, but managing concentration and maintaining the condition of key players remain challenges ahead.* This article has been translated by AI. August 10, 2026 09: -
Eight South Koreans Wanted by Interpol Arrested in Vietnam South Korean individuals wanted by Interpol are being arrested in Vietnam and extradited to South Korea. Evidence has emerged that an online fraud ring, previously operating from Cambodia, relocated to Vietnam to evade law enforcement. South Korean fugitives facing charges of illegal gambling, voice phishing, and investment fraud have also been apprehended by local authorities.According to the police in Bac Ninh Province, on August 5 and 6, eight South Koreans subject to Interpol red notices were handed over to South Korean authorities at Hanois Noi Bai International Airport. The transfer involved the criminal investigation office under the Bac Ninh police, the immigration department, the mobile police unit, and the Ministry of Public Securitys international cooperation department.The key figure among the eight is identified as a South Korean national born in 1984. The wanted record indicates that this individual and accomplices operated an online fraud organization in Sihanoukville, Cambodia, from September 2024 to March 2026. Their targets included businesses, restaurants, and retail stores in South Korea. They allegedly posed as buyers and sellers to gain victims trust, convincing them to send deposits and then stealing the money. The international wanted notice lists 28 victims, with losses exceeding 1 billion won.Domestic authorities have determined that the actual scale of the fraud is larger than indicated in the wanted notice. They estimate that the organization defrauded 619 South Korean victims of over 17.7 billion won. The Seoul District Court requested the issuance of an Interpol red notice for these eight individuals.The presence of these fugitives in Vietnam was detected in March during a residence management process by the Bac Ninh police. They, along with the immigration office, identified suspicious living conditions and potential illegal activities of the eight South Koreans residing in a five-story house in Bac Ninhs Haphin District. During an on-site inspection, violations of residency reporting and equipment suspected to be used for online crimes were discovered. The police confirmed that none of the eight had reported their temporary residence. The house contained nine computers, six tablets, three USB drives, and 13 mobile phones.Fugitives Move to Vietnam Amid Crackdown in CambodiaThe increased enforcement in Cambodia has been identified as a reason for the fugitives relocation. Vietnamese authorities believe that, following a crackdown by Cambodian authorities on fraud organizations, these individuals requested their boss to allow them to move to Vietnam for continued operations.Identification was carried out in cooperation with South Korean authorities. After confirming their illegal activities, the Bac Ninh police requested support from relevant departments within the Ministry of Public Security and sought verification from the South Korean embassy in Vietnam and the Korean National Police Agency. Subsequently, it was confirmed that all eight were subjects of arrest warrants from the Seoul District Court and Interpol red notices.Previously, two other South Korean fugitives were also extradited from Bac Ninh. On the night of April 7, the Bac Ninh police handed over individuals identified as C and O to South Korean authorities at Noi Bai International Airport. Both were confirmed to be subjects of Interpol red notices.C is accused of operating an illegal online horse racing gambling site. According to the wanted record, he provided betting services for horse races in Seoul, Busan, and Jeju, as well as Japanese races, through an illegal betting site named Daesang Racing. From February 8 to November 4, 2024, 277 users reportedly sent over 5.9 billion won to Cs accounts. The Suwon District Court issued an arrest warrant on May 14, 2025, and Interpol issued a red notice on September 11 of the same year.O is accused of participating in a telephone financial fraud organization. The wanted record states that he impersonated postal workers, prosecutors, investigators, and financial supervisory officials to deceive victims. From March 23 to April 1, 2025, O and accomplices allegedly defrauded multiple victims of 689 million won. The Uijeongbu District Court issued an arrest warrant on August 19, 2025, and Interpol issued a red notice on September 15 of the same year.The capture of the two occurred in Bac Ninhs Bo Cuong area. Bac Ninh police confirmed in early March that C and O presented passports but lacked visas, raising suspicions of illegal entry. Following this, the Bac Ninh police tracked their whereabouts and apprehended them on April 6 while they were hiding in Bo Cuong. They reportedly admitted to illegally entering Vietnam and moving around various regions.Earlier, President Lee Jae-myung met with leaders from Southeast Asia, including Vietnam, during the APEC summit in Gyeongju last year to strengthen transnational cooperation against the growing scam crimes spreading across Southeast Asia. In December of the same year, a Korea Task Force comprising South Korean and Cambodian police achieved success by arresting South Koreans engaged in criminal activities in Cambodia and rescuing South Koreans who had been held captive.* This article has been translated by AI. August 7, 2026 17:4
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Yuanta Securities Maintains Buy Rating for LIG Defense and Aerospace Amid Surge in Cheongung II Demand Yuanta Securities announced on August 7 that LIG Defense and Aerospace is expected to benefit from the expansion of the global air defense missile market, maintaining a buy rating and a target price of 1,050,000 won. The previous days closing price was 702,000 won, indicating a potential upside of about 50%.Baek Jong-min, a researcher at Yuanta Securities, stated, In the second quarter, consolidated revenue was 1.111 trillion won, and operating profit was 105.7 billion won. While these figures slightly fell short of market expectations, they represent year-on-year increases of 17.4% and 29.6%, respectively, indicating solid growth. The slowdown in performance compared to the previous quarter is attributed to the diminishing impact of early deliveries of the Cheongung II system to the United Arab Emirates (UAE) in the first quarter. Revenue from Cheongung II was approximately 170 billion won in the first quarter, but it dropped to 99 billion won in the second quarter due to the progress-based revenue recognition. Changes in product composition due to the conclusion of some high-margin export projects also played a role.Yuanta Securities has revised its annual operating profit margin (OPM) forecast for this year from 7% to 8%. This adjustment reflects a reduction in losses from Ghost Robotics and accounts for uncertainties related to increased research and development costs. Analysts believe that actual results may exceed the companys guidance.Particularly noteworthy is the rising demand for the Cheongung II system. During the earnings announcement, the company indicated that supply is not keeping pace with demand. Negotiations for procurement are ongoing with several countries, including those in the Middle East and Southeast Asia, following the recent regional tensions. The planned expansion of production facilities, set to be completed by 2028, is also a measure to address new demand.Baek added, The U.S. Department of Defenses plans to expand the Patriot (PAC-3) and Terminal High Altitude Area Defense (THAAD) systems are exacerbating the global shortage of air defense missiles. We expect contracts for Cheongung II in the Middle East and Southeast Asia to materialize as early as the second half of this year. * This article has been translated by AI. August 7, 2026 08:1
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Nearslab Targets Global Defense Market with Physical AI Drones, Set for KOSDAQ Listing Nearslab, an AI-based industrial drone solution company, is set to enter the global defense industry market by leveraging its autonomous flight technology developed in the wind power sector. The company plans to expand its production capacity and research and development (R&D) investments, accelerating the growth of its physical AI-based drone business in conjunction with its KOSDAQ listing.On August 6, Nearslab held a press conference for its initial public offering (IPO) at the 63 Square in Yeouido, Seoul, to announce these plans.Founded in 2015, Nearslab develops physical AI-based autonomous flight technology that enables drones to perceive and assess their surroundings to carry out missions. The company provides autonomous flight drone solutions for wind turbine inspections, industrial safety, and defense sectors based on its core technology, Aerial Intelligence.Nearslab was the first to apply this technology in the wind power sector. To date, it has inspected over 100,000 wind turbine blades across more than 40 countries, achieving a success rate of over 99% for autonomous flight missions. Building on its accumulated operational data and flight experience, the company is now expanding into the defense sector.Key products include the KAiDEN, a counter-drone defense system, and the XAiDEN, a swarm suicide drone. The XAiDEN platform allows a single operator to control up to 10 drones simultaneously and secured its first major contract in the defense market last year, winning a project worth approximately $10 million. The KAiDEN has also completed exports to Southeast Asia and is pursuing additional contracts based on pilot projects in Singapore, the United Arab Emirates (UAE), and domestic military trials.The expansion into the defense sector has led to improved financial performance. For the second quarter of this year, Nearslab reported preliminary revenues of 16.9 billion won and an operating profit of 500 million won, marking the first quarterly profit since its establishment. This is attributed to the revenue from overseas projects secured last year. While the company expects to record losses on an annual basis this year and next, it aims to achieve profitability by 2028 based on its defense business expansion.CEO Choi Jae-hyuk stated, With the IPO, we will expand our production infrastructure and R&D investments and begin global supply of KAiDEN and XAiDEN. We aim to lead the global autonomous flight drone market based on our physical AI technology.Nearslab plans to use the funds raised from the IPO for building production facilities, R&D, and expanding its global business. A total of 910,000 shares will be offered, with a target price range of 30,000 to 41,200 won. The general subscription will take place on August 12-13, with the KOSDAQ listing scheduled for August 24.* This article has been translated by AI. August 6, 2026 18:1
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Misto Holdings Expands FILA Stores in Malaysia, Plans to Enter Thailand and Indonesia Misto Holdings Malaysian subsidiary is accelerating its expansion in the Southeast Asian market by increasing the number of FILA stores in key commercial areas.On August 6, Misto Holdings announced that its Malaysian branch opened four new stores in major markets, including Kuala Lumpur and Penang, during the first half of this year. This brings the total number of FILA stores in Malaysia to 14.The new openings are part of a retail expansion strategy that considers regional consumer characteristics and market competitiveness. The company noted that Malaysia serves as a hub connecting major Southeast Asian countries and has a strong consumer base along with a shopping mall-centered distribution infrastructure.Notably, the Gurney Plaza shopping mall in Penang features Southeast Asias first FILA 1911 Store. The store includes a dedicated space showcasing FILAs history and sports heritage, in addition to lifestyle and performance product lines.Misto Holdings plans to expand the FILA 1911 Store concept to other key Southeast Asian markets, including Thailand and Indonesia. A company representative stated, Malaysia is a key strategic base for expanding into the Southeast Asian market, and we will establish a differentiated retail environment that conveys our brands history, values, and sports heritage.Additionally, Misto Holdings released its sustainability management report in June, outlining a 2030 Sustainability Management Roadmap based on four core values: resilience, synergy, capability enhancement, and responsibility.* This article has been translated by AI. August 6, 2026 11:3
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Rising Demand for Energy Transition Amid Middle East Conflicts: KOTRA Expands K-Green Tech Exports As instability in energy supply chains grows due to conflicts in the Middle East and the prolonged Russia-Ukraine war, foreign companies are increasingly seeking domestic eco-friendly technologies. South Korean firms are exploring opportunities in overseas markets, particularly in the Middle East and Southeast Asia, by showcasing their resource recycling and renewable energy technologies.The Korea Trade-Investment Promotion Agency (KOTRA) announced that it held an export consultation event linked to the 2026 GreenEnerTEC exhibition from August 5 to 6 at the Songdo Convensia in Incheon.Hosted by the Ministry of Trade, Industry and Energy and the Incheon Metropolitan City, the event was co-organized by KOTRA and the Incheon Tourism Organization. A total of 15 buyers from countries including Vietnam, Serbia, China, and Kuwait conducted 124 export consultations with 60 domestic companies.Now in its fifth year, GreenEnerTEC is a specialized exhibition for business-to-business transactions in the environmental and renewable energy sectors. The exhibition runs from August 5 to 7, featuring approximately 130 companies and 250 booths showcasing products and solutions related to carbon neutrality, water treatment, renewable energy, and eco-friendly plastics.During the consultations, inquiries were made not only about energy production technologies but also about solutions applicable to urban infrastructure, such as waste management and resource recycling.Aritech Bio, which has developed food waste recycling solutions, discussed collaboration opportunities with local buyers involved in Kuwaits smart city project. They explored the potential for supplying waste management technologies for urban development projects in the Middle East.Daesin MC, a manufacturer of industrial cleaning equipment, consulted with six overseas companies, including those from Nigeria and Kuwait. They signed business agreements with some buyers and agreed to discuss future product supply and local business cooperation.By hosting the exhibition alongside the consultation event, overseas buyers were able to directly assess products and technologies. On the second day of the consultations, buyers visited the exhibition booths of domestic companies for further discussions.A representative from Kuwait Sunrise Corporation stated, We participated again because we had previously discovered trading partners through GreenEnerTEC. We hope to engage with more Korean companies. The International Energy Agency has analyzed that energy supply disruptions due to conflicts in the Middle East are reshaping investment plans across countries and highlighting the importance of energy security and supply chain diversification.While the global energy transition market is expanding, actual export success from consultations will depend on local certifications, price competitiveness, and after-sales support systems. The smart city and renewable energy sectors often involve projects initiated by governments and public institutions, making collaboration with local operators crucial for securing contracts.Kim Sam-soo, head of KOTRAs Incheon Support Center, remarked, As supply chain instability continues, foreign companies are paying attention to eco-friendly and energy transition technologies. We will strengthen demand discovery and on-site support to help domestic companies enter overseas supply chains.* This article has been translated by AI. August 6, 2026 11:0
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Samsung and SK Hynix Secure Renewable Energy Supply for Yongin Fab Samsung Electronics and SK Hynix have made progress in securing a carbon-neutral power grid, which has been a significant hurdle in the global AI chip procurement race. With major tech companies pushing for RE100 (100% renewable energy usage), the government is moving towards national legislation, alleviating uncertainties surrounding renewable energy procurement for the Yongin semiconductor cluster.According to the government and industry sources on August 5, the Yongin semiconductor cluster, a key production base for Samsung and SK Hynix, is expected to benefit indirectly from the establishment of the RE100 Industrial Complex Special Law aimed for this year. This law will elevate the energy self-sufficiency principle, allowing the Yongin fab to significantly increase its access to green power from external sources as the area is developed into a large-scale renewable energy supply hub.The Ministry of Trade, Industry and Energy announced plans for the new RE100 Industrial Complex Special Law during its second-half work report. The proposal includes designating regions with enhanced renewable energy self-sufficiency, such as the southwestern area, as RE100 special zones to foster a renewable energy ecosystem and connect it to the national power grid. The plan aims to significantly ease regulations on direct power purchase agreements (PPAs) while expanding transmission infrastructure to create a nationwide eco-friendly power supply system.Previously, the Yongin semiconductor cluster faced challenges in securing renewable energy due to difficulties in land acquisition in the metropolitan area, a lack of transmission networks to bring in power from regions like Honam, and excessive PPA fees.With the special law, discussions on revising the cost structure for network usage fees and additional costs related to direct power purchase agreements (PPAs) are expected to gain momentum, allowing the Yongin fab to benefit from reduced power procurement costs. Notably, if the construction of the West Coast High Voltage Direct Current (HVDC) transmission network is expedited in conjunction with the RE100 special zone designation, it could accelerate the flow of large-scale offshore wind and solar power, previously constrained by transmission capacity issues, into the Yongin semiconductor lines with minimal power loss.Samsung and SK Hynix are closely monitoring the detailed implementation plans of this policy. There is a growing concern that even if they produce world-class semiconductors through next-generation high-bandwidth memory (HBM) or advanced process nodes, they could lose supply opportunities if they fail to meet carbon neutrality requirements. For instance, Apple has mandated carbon neutrality across its entire supply chain by 2030, while Microsoft and Google have set similar expectations for their partners to achieve 100% carbon-free and renewable energy usage by around 2030.Global competitors have already secured large-scale long-term power purchase agreements (PPAs) or rapidly increased their share of green power procurement, particularly in overseas operations. TSMC has signed a 20-year long-term PPA with Denmarks Ørsted to exclusively receive 920 megawatts (MW) of offshore wind power, demonstrating aggressive moves to secure green energy. Micron is also pursuing large-scale long-term PPAs to achieve RE100 in its U.S. operations and has been signing long-term green power purchase agreements in Taiwan and Southeast Asia.As uncertainties surrounding renewable energy procurement for the Yongin fab diminish, industry attention is focused on the potential impact on K-semiconductors global carbon neutrality efforts.An industry insider stated, If the RE100 special zone is established, the connection between the power grid and transmission infrastructure will be smoother, allowing not only designated cities but also national strategic industrial complexes like Yongin to somewhat mitigate energy risks. This will provide a foundation for meeting the carbon neutrality guidelines of global clients.* This article has been translated by AI. August 5, 2026 18:0
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Netmarble Reports Q2 Revenue of 749.2 Billion Won, Operating Profit of 80.1 Billion Won Netmarble continued its revenue growth in the second quarter of this year, but its operating profit declined. International sales accounted for 78% of total revenue, driving the companys performance.On August 5, Netmarble announced that it recorded a consolidated revenue of 749.2 billion won and an operating profit of 80.1 billion won for the second quarter. Revenue increased by 4.4% compared to the same period last year, while operating profit fell by 20.8%.International sales reached 580.8 billion won, representing 78% of total revenue. This marks a 13.4% increase from the previous quarter and a 22.6% increase year-over-year. The company attributed the growth in international sales to the update of The Seven Deadly Sins: Origin and the initial success of the new title Soul: Enchant released in June.By region, North America accounted for the largest share at 39%, followed by South Korea at 22%, Europe at 13%, Southeast Asia at 10%, Japan at 9%, and other regions at 7%.In terms of game genres, RPGs made up 42% of sales, followed by casual games at 35%, MMORPGs at 17%, and other genres at 6%, showcasing a diverse portfolio.Netmarble plans to continue its growth trajectory in the second half of the year with the release of new titles. The company is preparing to launch three new games: Solo Leveling: Karma, Shangri-La Frontier: Seven Strongest Species, and Project Aegis.Kim Byung-kyu, CEO of Netmarble, stated, We are enhancing our business competitiveness by expanding services across various platforms. In the second half, we aim to improve performance stability through advanced live services and maintain growth momentum with differentiated new releases.* This article has been translated by AI. August 5, 2026 16:0
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Korean scam ring shifts to Central Asia on SE Asia crackdown SEOUL, August 05 (AJP) -South Korean fraud rings are spreading from Southeast Asia into Central Asia to stay ahead of law enforcement, with authorities dismantling their first known Korean-run scam operation in Kazakhstan and bringing home 14 suspects. The arrests underscore what South Korean police called a "secondary balloon effect," in which criminal organizations relocate to increasingly distant countries as crackdowns close traditional operating bases across Southeast Asia. A government-wide task force on transnational crime said Wednesday that South Korean and Kazakh authorities raided a scam office and hideout in Almaty on July 23, arresting 14 South Korean members of the organization. Five additional members of the same network were arrested simultaneously in South Korea. The 14 suspects detained in Kazakhstan were repatriated through Incheon International Airport between July 28 and Aug. 5. Ten have been formally arrested, while the remaining four were transferred to the Busan Metropolitan Police Agency for further questioning. Of the five suspects arrested in South Korea, four have also been formally arrested, while one is awaiting a court hearing on an arrest warrant. Police believe the organization involved at least 40 members. The alleged Chinese ringleader and several managers fled to China after learning of the investigation, authorities said. Police are seeking Interpol Red Notices for the fugitives and are working with overseas counterparts to locate additional suspects. Investigators said the group originally operated in Cambodia before relocating to Ho Chi Minh City, Vietnam, last year as authorities intensified crackdowns on telecom fraud. From there, the organization shifted again to Kazakhstan in March and had fully established its new base by May. Authorities believe the group chose Kazakhstan for its relatively advanced communications infrastructure and its geographic position, which allows members to flee overland to neighboring countries, including China and Kyrgyzstan. The organization allegedly operated a call center from a house on the outskirts of Almaty, carrying out voice-phishing schemes designed to isolate victims before persuading them to transfer their own money. According to investigators, victims first received calls claiming court documents had been issued in their names and were instructed to access a fake judicial website. Members posing as prosecutors then falsely claimed the victims' bank accounts had been linked to criminal activity and ordered them to relocate to hotels or other temporary lodging. Once isolated from family and acquaintances, victims were instructed to obtain new mobile phones, install remote-access software and transfer money into accounts controlled by the criminal organization. Police have so far identified 16 victims and confirmed losses of about 600 million won ($420,000). Authorities cautioned that those figures reflect only the cases included in arrest warrant applications and said total losses could ultimately reach several billion won as investigators identify additional victims. The operation was coordinated by South Korea's National Police Agency, National Intelligence Service, Foreign Ministry and Justice Ministry. Police and the NIS established a joint response team after detecting the organization's relocation to Kazakhstan. South Korea's Foreign Ministry and its consulate in Almaty supported local operations and the suspects' repatriation, while the Justice Ministry handled international judicial cooperation. Kazakhstan's National Security Committee and Interior Ministry participated in surveillance, arrests, interrogations and the suspects' return to South Korea. A senior police official said authorities moved before the group could become firmly established in Kazakhstan and significantly expand its operations. Investigators are now analyzing mobile phones, laptops and other electronic devices seized during the raid to determine the full scale of the network, identify additional crimes and track remaining fugitives in cooperation with foreign law enforcement agencies. AJP Takeaway: South Korean and Kazakh authorities raided a Korean-run scam operation in Almaty on July 23, 2026, arresting 14 Korean nationals in Kazakhstan and five additional suspects in South Korea. The 14 suspects arrested in Kazakhstan were repatriated through Incheon International Airport between July 28 and Aug. 5; police have formally arrested 10 of them, while four others remain under questioning. Investigators believe the network involved at least 40 people and moved from Cambodia to Vietnam and then Kazakhstan as crackdowns on overseas fraud rings intensified across Southeast Asia. Police have confirmed 16 victims and losses of about 600 million won, but authorities said total damages could rise to several billion won as more cases are identified. The case marks what South Korean police called a “secondary balloon effect,” with scam networks relocating beyond Southeast Asia to more distant countries, while authorities now pursue the alleged Chinese leaders and analyze seized phones, laptops and other evidence. August 5, 2026 15:0 -
Lotte Chilsung Reports 10% Drop in Q2 Operating Profit Despite Revenue Growth Lotte Chilsung Beverage continued its revenue growth in the second quarter, driven by strong performance in its alcohol and overseas businesses, despite facing external uncertainties. However, ongoing pressures from raw material costs and logistics expenses led to a decline in operating profit.The company reported a consolidated operating profit of 55.8 billion won and revenue of 1.1129 trillion won for the second quarter, marking a 10.4% decrease in operating profit and a 2.4% increase in revenue compared to the same period last year.For the first half of the year, Lotte Chilsung recorded an operating profit of 103.6 billion won and revenue of 2.0654 trillion won, representing increases of 18.6% and 3.4%, respectively, from the previous year.While profitability in the beverage sector slightly declined, strong sales in key categories contributed to overall growth. The beverage division reported a separate operating profit of 20.5 billion won and revenue of 500.5 billion won in the second quarter, with operating profit down 13.2% and revenue up 1.7%.Sales of sports drinks surged by 8.5% due to early summer heat and increased demand for health beverages. Carbonated drinks benefited from the zero-calorie trend and seasonal effects, growing by 3.1%, while ready-to-drink (RTD) coffee saw a 4.1% increase thanks to market growth and new product launches.Beverage exports also rose by 9.8% year-on-year, driven by strong sales of Milkis, Lets Be, and aloe juice in over 50 countries, including the United States, Russia, Europe, and Southeast Asia.The alcohol segment led the performance improvement, with a separate operating profit of 7.5 billion won and revenue of 195.1 billion won in the second quarter, reflecting increases of 156.6% and 3.2%, respectively. For the first half, operating profit in the alcohol sector reached 23 billion won, up 34.5%.Notably, the growth of RTD products was significant. Following the renewal and expansion of the Suhari Jin product line, RTD sales skyrocketed from 4.4 billion won last year to 10.6 billion won this year, a 143.3% increase. Sales of soju brands Cheoeumcheoreom and Saero rose by 1.9%, while demand for lower-alcohol products increased soju sales by 1.8%, and wine sales grew by 8.8% due to expanded distribution channels.Although the global segment continued to grow, profitability declined. The global division, including overseas subsidiaries, reported second-quarter revenue of 458.5 billion won, a 3.4% increase, while operating profit fell by 27.0% to 26.1 billion won. The company attributed this decline to rising raw material and logistics costs. However, the combined share of global subsidiaries and exports expanded to approximately 47% of total revenue.Lotte Chilsung plans to minimize material cost burdens and focus on improving fixed cost efficiency through expanded sales networks in the second half of the year. The company aims to achieve consolidated revenue of 4.1 trillion won and an operating profit of 200 billion won for the year.A company representative stated, The second quarter faced challenges in profitability due to rising raw material and logistics costs, but we maintained revenue growth through the expansion of our alcohol business, RTD products, and increased beverage exports. We will establish a stable growth foundation through the development of global brands and a focus on profitability improvement.* This article has been translated by AI. August 5, 2026 14:4
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KOTRA Launches Digital Support Package as ASEAN Exports Surge 53% The Korea Trade-Investment Promotion Agency (KOTRA) announced on August 4 that it is launching the 2026 Export Market Expansion – Southeast Asia initiative to comprehensively support domestic companies entering the Southeast Asian market.Following the Middle East initiative launched in June, the Southeast Asia program will involve 160 domestic companies. It includes a digital overseas marketing package that combines webinars, one-on-one online business-to-business (B2B) consultations, and follow-up support from AI trade support centers.In the first half of this year, exports to ASEAN countries surged 53% year-on-year to $88.27 billion (approximately 126.3 trillion won), making it the third-largest export region after China and the United States. Exports of consumer goods, particularly cosmetics and baby products, reached $3.2 billion, an 8% increase.KOTRA is implementing a multi-faceted support system to convert the heightened demand for K-branded consumer goods in Southeast Asia, spurred by the presidents recent visit, into actual exports. The agency will assist with product photography and marketing content creation through 20 AI trade support centers nationwide, as well as provide access to the buyKOREA online exhibition and generative AI-based market analysis reports.Further support will include buyer discovery through 11 overseas trade offices in Southeast Asia, one-on-one video consultations, and follow-up sample deliveries.In response to the upcoming mandatory Halal certification in Indonesia in October, KOTRA will also focus on penetrating the $27 billion Muslim consumer goods market in Southeast Asia.Gu Bon-kyung, head of KOTRAs Southeast Asia and Oceania Regional Headquarters, stated, Southeast Asia is a strategic market with a high preference for K-branded consumer goods and new opportunities such as Halal. We will actively support our companies to respond proactively to the changing environment.* This article has been translated by AI. August 4, 2026 11:0
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LG Electronics pushes deeper into Asia commercial laundry market with Thailand franchise deal SEOUL, August 03 (AJP) - LG Electronics is accelerating its push into Asia's commercial laundry market after securing a supply deal with one of Thailand's largest laundromat chains, extending its business-to-business expansion beyond its established North American and European markets. The company said Trendy Wash selected its commercial laundry products based on their durability, energy efficiency and centralized store management capabilities. LG is also expanding its commercial laundry business in the Philippines through distribution partners including ELS, Big Wash and Express Clean, while opening a reference laundromat, Bee Laundry, in Hanoi with local partner WW Vietnam to showcase its commercial products and store management platform to potential customers and investors. The South Korean electronics maker said revenue from its commercial laundry business in Southeast Asia rose about 60 percent last year from a year earlier, with sales more than doubling in Thailand and increasing by more than 50 percent in the Philippines. Beyond Asia, LG is expanding its presence in Europe and North America. The company this month introduced six large-capacity commercial laundry models under its LG Professional brand in Europe, targeting demand for machines with capacities of 20 kilograms or more. The lineup includes washers, dryers and washer-dryer combinations. In North America, LG said it has increased shipments to CSC ServiceWorks, the region's largest commercial laundry solutions provider, while continuing supplies to Wash, another major operator, under an agreement that began in 2024. The company attributed its expansion to proprietary technologies including its inverter direct-drive motor and LaundryCrew, a remote management platform that enables operators to monitor equipment status, control machines remotely and receive maintenance alerts across multiple locations. August 3, 2026 10:4 -
LG Electronics Accelerates B2B Laundry Appliance Business in Southeast Asia LG Electronics is expanding its supply of commercial laundry appliances in Southeast Asia, focusing on strengthening its business-to-business (B2B) operations. Leveraging the technology and operational expertise gained in North America and Europe, the company is enhancing product competitiveness and remote management solutions to accelerate its entry into the global commercial laundry market.On August 3, LG Electronics announced that it has completed the supply of commercial washing machines and dryers to Trendy Wash, Thailands second-largest laundromat franchise, which operates 630 locations. The company plans to provide additional units to over 400 new stores opening this year.Trendy Wash chose LG Electronics products for their durability, energy efficiency, and an operational platform that allows for efficient management of multiple locations.In addition to Thailand, LG Electronics is rapidly expanding its business in Southeast Asia, including the Philippines and Vietnam. In the Philippines, the company is enhancing partnerships with major commercial laundry appliance distributors such as ELS, Big Wash, and Express Clean. Recently, LG opened a smart laundry store called Bee Laundry in Hanoi, Vietnam.Bee Laundry serves not only as a laundry service for general customers but also as a reference store where potential entrepreneurs and business partners can experience LGs commercial washing machines and management solutions firsthand.The laundromat market in Southeast Asia is growing rapidly due to factors such as a hot and humid climate, urbanization, and an increase in single-person households. The demand for commercial laundry services is steadily rising in major cities with high tourist and long-term resident populations, making it a region with significant market growth potential.Last year, LG Electronics sales of commercial laundry appliances in Southeast Asia increased by approximately 60% compared to the previous year, with sales in Thailand more than doubling and those in the Philippines increasing by over 50%.Building on this growth, LG plans to expand its operations to Vietnam, Cambodia, Singapore, Malaysia, and Indonesia.The company is also strengthening its efforts in Europe and North America. This month, LG launched its LG Professional brand of large-capacity commercial laundry appliances (20 kg and above) in the European market. The lineup includes six models of washing machines, dryers, and washer-dryer combos, featuring AI that analyzes the weight of laundry to automatically optimize water usage and drying conditions.The dryers incorporate dual inverter heat pump technology to enhance energy efficiency and can be flexibly installed in various commercial spaces without the need for separate exhaust duct installation.In the North American market, LG is expanding its collaboration with CSC ServiceWorks, the leading provider of commercial laundry solutions, while continuing to supply products to the second-largest player, Wash.LG Electronics also highlights its differentiated core component technology as a competitive advantage. The commercial washing machines utilize an inverter DD (Direct Drive) motor that connects the drum directly to the motor, reducing vibration and noise while enhancing durability and energy efficiency. This ensures stable performance in commercial environments where the machines are used for extended periods.The management solutions that enhance operational efficiency are another strength. Through the LaundryCrew platform, operators can monitor and control multiple washing machines and dryers in real-time. The system also provides error notifications and smart diagnostic features, reducing maintenance burdens.LG Electronics aims to further expand its global commercial laundry appliance market presence, leveraging its accumulated experience in the premium market and the competitiveness of its management solutions.Im Ki-yong, head of LG Electronics HS B2B overseas sales, stated, We will continue to expand our B2B business in the global commercial laundry market based on our industry-leading product competitiveness and proven management solutions.* This article has been translated by AI. August 3, 2026 10:0
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Nexen Tire Accelerates Expansion in ASEAN Market with New Malaysia Store Nexen Tire is establishing a local business framework in Malaysia, a key market in the ASEAN region, encompassing sales, distribution, and logistics. The company is expanding its brand presence and transitioning to a local sales corporation to enhance its foothold in Southeast Asia.On August 3, Nexen Tire announced the recent renovation of a large flagship store in the Sri Petaling area of Kuala Lumpur.Since 2022, Nexen Tire has opened over 60 flagship stores in Malaysia, with plans to add more than 20 additional locations this year to continuously boost brand awareness and market share.The flagship stores are designed to reflect Nexen Tires brand identity in local partner outlets, representing the companys global shop branding strategy.Nexen Tire is also significantly upgrading its sales structure in Malaysia. Starting next month, the company will convert its Malaysian subsidiary into a resale corporation responsible for local distribution.This transition aims to strengthen local market responsiveness and distribution efficiency. The company is also considering establishing a regional logistics center, targeting a launch in the first half of next year. The plan is to gradually develop a complete local business structure encompassing sales points, entities, and logistics.Malaysia is recognized as one of the major automotive markets in ASEAN and is viewed as a strategic hub for Southeast Asian expansion. Nexen Tire plans to leverage its proven quality by supplying original equipment tires to global premium automotive brands such as Mercedes-Benz, BMW, Porsche, and Audi.A Nexen Tire representative stated, The expansion of flagship stores, the transition to a sales corporation, and the establishment of logistics centers demonstrate Nexen Tires long-term investment commitment and vision for the Malaysian market.Meanwhile, Nexen Tire reported a second-quarter revenue of 891.3 billion won, a 10.8% increase from the same period last year. However, operating profit fell by 19% to 34.3 billion won due to rising raw material costs, shipping burdens, and U.S. anti-dumping tariffs.* This article has been translated by AI. August 3, 2026 08:3
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K-Beauty's Growth Shifts from China to North America and Europe Amorepacific and LG Household & Health Care are rapidly shifting their overseas growth focus from China to North America and Europe. Struggling with sluggish consumer demand in China and a downturn in the duty-free market, both companies have leveraged online channels like Amazon to enhance brand recognition and expand into offline distribution networks such as Sephora and Costco, setting the stage for a performance rebound. The growth strategy of K-beauty giants, previously reliant on China and duty-free sales, is evolving into a multi-brand, multi-channel approach centered on Western markets.According to industry reports, Amorepacific Group recorded consolidated sales of 1.25 trillion won ($1.1 billion) and an operating profit of 122.8 billion won ($104 million) in the second quarter of this year, marking increases of 14.6% and 53.3%, respectively, compared to the same period last year. The groups flagship subsidiary, Amorepacific, also saw a 17% rise in sales and a 59% increase in operating profit, driving the overall improvement. The rebound in performance is largely attributed to overseas operations, with second-quarter international sales reaching 551.6 billion won, a 28% increase year-on-year. Overseas operating profit surged 99%, from 36 billion won to 71.8 billion won.Regionally, the U.S., Europe, and Japan are leading the growth. Brands like Laneige and COSRX have expanded their presence in the North American skincare market, with emerging brands such as Aestura, ILLIYOON, and Mise en Scène joining the growth ranks. During Amazon Prime Day in June, Amorepacific Groups sales in the U.S. increased by 20% compared to last year, while European sales rose by 22%, achieving record highs. Laneiges Lip Glowy Balm and Lip Sleeping Mask ranked first and second in the lip balm category on Amazon U.S. COSRX, ILLIYOON, Aestura, and Mise en Scène products also ranked highly in key categories. Aestura and ILLIYOONs sales in Europe surged by 164% year-on-year.Amorepacific is expanding brands that have increased customer touchpoints online into local offline distribution networks. The derma brand Aestura first entered Sephoras European online store in February and has since expanded its sales network to approximately 860 Sephora stores across 19 European countries, including France, Germany, Italy, and Spain. Aesturas flagship product, Atobarrier 365 Cream, entered the U.S. market in February 2025 and has since ranked among the top five moisturizers at Sephora. COSRX is also supporting Amorepacifics expansion in Western markets. In 2023, Amorepacific acquired additional shares of COSRX, making it a subsidiary. Together with Laneige, Aestura, and ILLIYOON, COSRX is helping to broaden the Western brand portfolio.In Japan, the company is diversifying its channels and brands. COSRX achieved record sales during Qoo10 Japans discount event Mega Wari, while Laneige and Mise en Scène are also expanding their online and offline presence. Conversely, sales in the Chinese market have declined due to the streamlining of distribution channels. Amorepacific is focusing on enhancing profitability by restructuring its store and transaction structures in China rather than aggressively expanding its footprint.LG Household & Health Care Targets North America with Dr. GrootLG Household & Health Care is also seeing the benefits of restructuring its overseas business portfolio with a focus on North America. In the second quarter, the company reported sales of 1.66 trillion won ($1.4 billion), a 3.3% increase, and an operating profit of 102.8 billion won ($86 million), up 87.5%. Net profit reached 77.6 billion won ($65 million), a 101% increase. Overseas sales rose by 12.6% to 584.5 billion won, accounting for 35% of total sales. Notably, North American sales surged by 47.3% to 205.8 billion won, surpassing sales in China for the first time at 176 billion won.Since appointing CEO Lee Sun-joo at the end of last year, LG Household & Health Care has concentrated investments on brands and distribution channels with high growth potential. The luxury cosmetics business, previously centered on China and duty-free shops, is now focused on improving profitability, while brands with distinct functionalities, such as Dr. Groot, Yusimol, CNP, and Physiogel, are being developed in North America, Japan, and Southeast Asia. Dr. Groot is leading the charge in North America, having entered the online market in November 2023 and built recognition on Amazon and TikTok while expanding its sales network to Costco. In March, it entered the U.S. Sephora online store, and in June, it installed dedicated displays in over 90 key stores to assess local demand.Starting this month, Dr. Groot will sell 18 products, including shampoos, conditioners, and scalp serums, in more than 400 Sephora stores across the U.S. This expansion into offline retail follows its presence in over 600 Costco locations and premium beauty specialty stores, marking a shift from an online-centric approach to a more balanced offline strategy. Online sales have also shown strong results, with Dr. Groot and Yusimol seeing respective increases of 45.9% and 54.3% during Amazon Prime Day in June. CNP, The Face Shop, and Physiogel products also ranked highly in key categories. LG Household & Health Care is expanding its North American brand portfolio with products that consumers can easily understand, such as those focused on scalp care, teeth whitening, and skin barrier improvement.The beauty sector is also showing signs of recovery. In the second quarter, LG Household & Health Cares beauty division reported sales of 818.4 billion won ($688 million), a 3.9% increase, and operating profit of 44.4 billion won ($37 million), returning to profitability. Brands like Dr. Groot, Yusimol, Dominus, VDL, and Hince are driving performance improvements across domestic and international online and offline channels. Previously, the luxury cosmetics business centered on The History of Whoo was responsible for profits, but the business structure is now shifting towards diversifying brands, regions, and sales channels. LG Household & Health Care is nurturing Dr. Groot and Yusimol in North America while also restructuring its U.S. cosmetics brand, The Cream Shop. At last months Cosmoprof in Las Vegas, the company unveiled rebranded products from The Cream Shop, expanding its connections with local buyers.K-Beautys Territory Expands to North America and EuropeThe changes at both companies align with the diversification of the K-beauty export market. According to the Ministry of Food and Drug Safety, South Koreas cosmetic exports in the first half of this year reached an estimated $7 billion, a 27.3% increase from the same period last year, marking the highest figure for the first half of any year. The United States emerged as the largest market, accounting for $1.44 billion, or 20.7% of total exports. China followed with $1.06 billion, and Japan with $582 million. Poland, the UK, and the Netherlands also made it into the top ten export countries, highlighting the growing presence of the European market.The trend of the U.S. becoming the largest single market and the expansion of export targets to major European countries is driving Amorepacific and LG Household & Health Care to expand their operations in North America and Europe. The overseas strategies of South Koreas major cosmetics companies, previously focused on China and duty-free shops, are now shifting towards diversifying regions, brands, and distribution channels.Industry experts believe that as K-beauty expands into local offline distribution networks, the growth momentum in North America and Europe will gain further traction. Kwon Woo-jung, a researcher at Kyobo Securities, stated, The expansion of K-beauty brands into offline channels is rapidly increasing in global markets, including the U.S., and this offline penetration can attract new consumers who differ from the existing customer base, leading to higher conversion rates due to the presence of consumers with strong purchase intent. August 3, 2026 05:0