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AI & Enterprise

Alphabet revenue up 24 percent on Google Cloud; free cash flow turns negative on AI investment

Alphabet, Google’s parent, said on July 22 that second-quarter revenue rose 24 percent on the back of strong performance in its cloud business. It also said free cash flow turned negative as it continued to increase investment in AI data centres. Alphabet posted revenue of $119.8 billion, with cloud revenue at $24.8 billion and search revenue at $63.3 billion. Net profit was $112.1 billion, and the shares were little changed in after-hours trade.

General News

"We support your new beginning" - Letter-writing contest winners announced

Korea Post’s Postal Human Resources Development Institute announced on Wednesday the winners of the 2026 Korea Letter-Writing Contest. The contest ran from May to June under the theme of letters supporting someone’s new beginning. About 11,600 handwritten letters were submitted nationwide, more than 30 percent higher than last year. After preliminary and final judging, the institute selected 80 winners across seven categories, including individual and group prizes.

Telecommunications & Media

Rapolabs withdraws application to acquire SK Stoa; broadcast media commission warns of strict review on refiling

Rapolabs, which is pursuing the acquisition of SK Stoa, withdrew its application for approval to change the home-shopping broadcaster’s largest shareholder. The Korea Communications Commission ended its review process after being notified of the withdrawal. A review panel had said Rapolabs’ financing and operating plans did not meet approval standards. Rapolabs said it has not abandoned the acquisition and plans to reapply after revising its contract with SK Telecom.