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Samsung Electronics reported a second-quarter net profit of 71.62 trillion won (US$49.6 billion), up 1,299.9% year-on-year, driven by strong AI-related semiconductor demand. Operating income rose 1,813.8% to 89.49 trillion won, while sales increased 130% to 171.49 trillion won, meeting market expectations. The company expects continued robust demand in the second half.
South Korea's business sentiment rebounded in July, driven by improved confidence among manufacturers amid robust semiconductor exports, according to a central bank survey. Consumer sentiment also rose for the third consecutive month, supported by strong exports and investment plans, despite rising inflation and a volatile stock market.
Michelle Steel, the newly confirmed U.S. Ambassador to South Korea, is set to arrive in Seoul on Thursday, filling a post vacant since January last year. In her first major public remarks since confirmation, she called strengthening the alliance her top priority and highlighted U.S.–South Korea shipbuilding cooperation.
A senior US Navy official has described South Korea's command of combined maritime forces during this year's RIMPAC exercise as a 'historic leadership milestone,' underscoring shared responsibility among allies. The South Korean Navy also won top honors in a live-fire gunnery competition, and its participation is seen as a valuable opportunity to enhance its capabilities for combined operations.
BTS has announced it will not submit music for next year's Grammy Awards, a decision widely seen as a protest against the Recording Academy's new Best Asian Pop Music Performance category. The group said it hopes music is 'heard and loved for what it is, rather than divided by region or language.' The Recording Academy's CEO has responded, defending the category and expressing sadness at the decision.
President Lee Jae Myung departed Brazil for Chile, where he held a summit with Chilean President Jose Antonio Kast, agreeing to reactivate a joint trade committee and pursue cooperation in critical minerals. The visit is part of a three-nation South America tour that will conclude in Argentina.
The 48th UNESCO World Heritage Committee session in Busan wrapped up after adding 25 new sites, including Japan's Asuka-Fujiwara archaeological cluster and France's Normandy D-Day beaches. The committee also reviewed 148 properties, placing six on the danger list, and expanded two site boundaries.
Multiple reports from the Jerusalem Post indicate that Iran had planned a ballistic missile response to a Ukrainian attack on an Iranian ship in the Caspian Sea, with one account specifying a seaport target, but canceled it after direct diplomacy. Ukraine denies targeting civilians, Russia accuses Kyiv of 'terrorist attacks', and the official record remains contested.
A severe heat wave gripping South Korea has set multiple temperature records, including an all-time high of 42°C in Yangsan, Busan's highest in 122 years, and Seoul's first readings above 40°C. The Korea Meteorological Administration attributes the prolonged heat to the dual influence of the North Pacific High and Tibetan High pressure systems.
South Korea's defense ministry has issued a public notice of a draft bill to support the construction of nuclear-powered submarines, explicitly committing to non-nuclear weapons development. The proposed legislation outlines timelines, cooperation with international bodies, and measures to expedite the project.
Seoul stocks tumbled nearly 6% on Wednesday, extending a sharp sell-off driven by doubts over AI spending returns and rising Chinese competition in the memory chip market. The KOSPI fell 360.42 points to close at 5,663.24, triggering a marketwide circuit breaker.
NASA's Moon Base program executive Carlos Garcia-Galan visited Seoul to discuss plans for a lunar surface base under the Artemis program, highlighting South Korea's industrial capabilities and partnership with the Korea AeroSpace Administration.
Manchester City will travel to Seoul without World Cup stars Rodri and Erling Haaland. Rodri is set to undergo back surgery, while Haaland is resting after the tournament. New coach Enzo Maresca addressed Rodri's future amid speculation.
A subcommittee of South Korea's National Assembly House Steering Committee has approved a bill to reduce the fast-track deliberation period from up to 330 days to about 90 days. The ruling Democratic Party and minor parties supported the measure, while the main opposition People Power Party boycotted the vote.
South Korea's chief financial regulator expressed regret and took responsibility for recent market volatility, partly attributed to single-stock leveraged ETFs. The Financial Services Commission is reviewing additional measures, including raising minimum cash deposits and capping investments, and plans to revise the Capital Markets Act.
National Assembly Speaker Cho Jeong-sik drew criticism after suggesting that allowing a sitting president to seek another term could be decided by public opinion. President Lee Jae Myung's office rejected the possibility, citing constitutional restrictions, while Cho later expressed regret over the misunderstanding.
Acting Prosecutor General Koo Ja-hyeon voiced deep concern over the ruling Democratic Party's push to strip prosecutors of their investigative powers, warning of concealed truths and a collapse in the criminal justice system. The party aims to pass the amendment at Thursday's plenary, while hardliners, including Rep. Seo Young-kyo, dismiss revision, citing the need for stronger victim safeguards.
SK hynix reported record revenue and operating profit for the second quarter, driven by robust demand for high bandwidth memory chips. Net profit surged 1,242.5 percent year-on-year to 93.92 trillion won, exceeding market expectations. The company also began mass production shipments of HBM4 to major customers during the quarter.
North Korean leader Kim Jong Un visited a memorial cemetery and posed for photographs with war veterans to celebrate the 73rd anniversary of the Korean War armistice. The events included a military parade and a gala, with Kim's daughter Kim Ju-ae making her first public appearance at such commemorations.
A brief evacuation alert was issued and later lifted in Pyeongtaek, South Korea, following a white phosphorus leak at the U.S. Osan Air Base. The U.S. military said the substance was about 80 percent diluted and posed low risk; no casualties were reported.