Daily brief
Samsung Electronics reported record quarterly operating profit, beating expectations as soaring demand for AI chips boosted its semiconductor business. The company is preparing to compete with SK hynix in producing next-generation HBM4 memory crucial for AI applications. Samsung and SK hynix also warned that the AI boom is squeezing chip supplies for PCs and phones, with other tech firms citing rising memory costs.
Hanwha Aerospace has won a $1.9 billion deal to supply 16 rocket launch units to Norway.
The South Korean government plans to redevelop public land to increase housing supply in the Seoul metropolitan area.
A US Treasury official stated that a tariff hike on South Korea is a signal for Seoul to ratify a pending trade deal, a stance echoed by US Trade Representative Bessent (ongoing coverage).
Hyundai Motor reported a 19.5% drop in operating profit for 2025 despite achieving record sales.