AJA Newsbites is a curated roundup of major news and developments from across Asia, brought to you by members of Asia Journalist Association (AJA)
Lee Sang-ki, THE AsiaN, Korea
Hyundai Motor reported a 15.8% drop in second-quarter operating profit, despite stronger U.S. sales. The company attributed the decline to an estimated $630 million in losses stemming from new U.S. tariffs, which have imposed a 25% duty on Korean-made vehicles since April. Meanwhile, Japan has secured a favorable 15% auto tariff deal with the U.S., effectively reversing Korea’s previous advantage under the KORUS FTA.
Although Hyundai sold more vehicles and benefited from a weaker won, its profits declined due to stagnant vehicle prices. In response, the company plans to localize production of parts and cut costs. However, analysts caution that Japan could gain a competitive edge in the U.S. market at the expense of Hyundai and Kia.
Nasir Aijaz, Sindh Courier, Pakistan
The Pakistani shipping sector is poised for significant transformation following the signing of a Memorandum of Understanding (MoU) between the National Shipping Corporation (PNSC) and China’s Shandong Xinxu Group. The agreement was signed by the CEO of PNSC and the Chairman of Shandong Xinxu Group Corporation at a ceremony held in Islamabad on Thursday.
PNSC, based in Karachi, is Pakistan’s leading national flag carrier and operates under the Ministry of Maritime Affairs. Shandong Xinxu Group Corporation, headquartered in Zibo City, Shandong Province, is a major Chinese enterprise specializing in international trade and shipping.
The MoU outlines a framework for mutual trust and cooperation, aimed at promoting commercial opportunities and fostering a conducive environment for investment in Pakistan’s maritime industry.
The agreement primarily focuses on collaboration in key areas, including the sale and purchase of merchant vessels—such as liquid bulk tankers, dry bulk carriers, and container ships—under joint or individual ownership structures, as well as profit and loss sharing arrangements. Additionally, the MoU covers the leasing of such vessels by Xinxu to PNSC through various chartering models, including time charters, spot charters, and bareboat charters.
Pooneh Nedai, Shokaran Magazine, Iran
Iranian filmmaker Jafar Panahi was named “Asian Filmmaker of the Year” at the 30th Busan International Film Festival. The honor comes just months after he won the Palme d’Or at the 2025 Cannes Film Festival for his film A Simple Accident.
With this latest recognition, Panahi has become the first Asian director to win all three of Europe’s most prestigious film awards: the Palme d’Or at Cannes, the Golden Lion at Venice (for The Circle), and the Golden Bear at Berlin (for Taxi). In his acceptance remarks, Panahi said that cinema continues to connect people across borders and limitations. He dedicated the award to all filmmakers who persist in silence, exile, or under pressure.
The Busan award is presented annually to individuals who have made significant contributions to Asian cinema.
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